Top 5 favorite quotes on trading

I’d like to share top 5 trading quotes. A lot of them relate to trading psychology as I am a big fan of psychology and believe that it’s a very important aspect of trading and if you don’t get it right, the odds are against you from the start. Here’s the list.

“Yet, I can see now that my main trouble was my failure to grasp the vital difference between stock gambling and stock speculation”. – Jesse Livermore

“I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because ...” If you can’t answer that question, you shouldn’t buy it. If you can answer that question, and you do it a few times, you’ll make a lot of money.” – Warren Buffet

“Any time you think you have the game conquered, the game will turn around and punch you right in the nose.” – Mike Schmidt

“Be patient, Be deliberate. Wait for the perfect setup. When you see it don’t hesitate. If it’s not happening, don’t take action”. - Entries & Exits

“A trader, in addition to studying basic conditions, remembering market precedents and keeping in mind the psychology of the outside public as well as the limitations of his brokers, must also know himself and provide against his own weaknesses.” – Jesse Livermore