Trading Mindset Quotes

Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.

Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.

The expectation that you bring with you in trading is often the greatest obstacle you will encounter.

The mind is a fascinating instrument that can make or break you.

In trading Bitcoin and other commodities, everyone wants 1000% in a week, but can't handle 20% drop in a week. That's the beginning of witchcraft.

In order to succeed, you first have to be willing to experience failure.

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

A quiet mind is able to hear intuition over fear.

When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.

Don't ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you'll reach a satisfying level of proficiency.

Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.

An influencer has the mindset of “I would like to help you make decisions that are good for you.” A manipulator has the mentality of “I want to secretly control you to benefit myself.

A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.

There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.

You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.

The process by which one accumulates money is so simple, yet so hard to implement for most.

Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.

Trading old broken mirrors that feed lies into our souls for new mirrors of freedom requires choices.

Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.

Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.

Trading mastery is a state of complete acceptance of probability, not a state of fight it.

Money matters, but not as much as you probably think.

You have power over how you'll respond to uncertainty.

Trading effectively is about assessing probabilities, not certainties.

The key is to develop a case where the probabilities of the market going in your favour is greater than it going against you.

Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.

Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in a constant flux. Learn to go through it with stability of mind. A meditation practice helps a lot.

All statistics have outliers. Money management, therefore, is key to the process of good trading.

Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.

Freedom from blind reactivity begins with self-awareness.

Trading is buying and selling to exploit a change in the price. Investing is acquiring assets for economic reasons.

Investing is not a war or revolution or anything close to this. You are in this business to make an honest profit.

In the moments of adversity, we engaged our minds on beautiful thoughts, our spirit on spirituality and our hands on inspiration writings. What a good trade of pain for peace of mind?

If socialist regimes work together, trade together, fight together, collaborate, and have fundamentally equivalent ideologies and tactics, they are genealogically related (a sort of Communist-Nazi brotherhood), which could be regarded as a Fascist-Marxist mindset. Of course, these socialist ideologues also fight each like rival siblings

Although Manmohan Singh, the helmsman, got the credit, it was Rao who took the tough and aggressive decisions and provided the energy and political support. He was shrewd and knew how to deal with dissent. The manner in which he pushed through the industrial policy in the cabinet is an example. At the same time, the reforms would not have happened without Manmohan Singh. To the extent that there was one, he created the road map. In a brilliant move, he set up a set of committees—bank reform under Narsimhan, tax reform under Chelliah, and insurance reform under Malhotra—and they provided crucial intellectual sustenance and legitimacy for reform measures in these areas. It needed Manmohan Singh to come and change the nation’s mind-set to growth. But Manmohan Singh is a reticent man and cautious by nature. On his own, without Rao’s constant support, he would not have done it. The new trade policy would not have come about as speedily without Chidambaram. Varma was a terror as the head of the steering committee and he provided the momentum for the implementation of the reforms for two years. He knew the system well, and he played it in favor of the reforms. Varma’s crucial contributions, I believe, have not been understood or appreciated. In the end, all three—Manmohan Singh, Chidambaram, and Varma—derived their strength from Narasimha Rao.

that we would receive the overwhelming message that the vast majority of adults feel they have no talent in these areas. On the other hand, if we were to conduct the same poll among 4-year-olds, we would find that virtually all of them are convinced they can sing, and virtually all of them have confidence in their ability to dance. Most of the 4-year-olds have little or no real talent, but, instead, they are endowed with incredible confidence in their own potential. This confidence, or certainty of success, is something we were all born with but we later traded in for a strong dose of what we call realism. Shortly after we reach school age, we are taught lessons about the world that revolve around us, limiting our vision and becoming realistic.

In the early days of adopting a conversation-centric mindset, you might miss the security blanket of what Stephen Colbert astutely labeled "little sips of online connection," & the sudden loss of weak ties to the fringes of your social network might induce moments of loneliness. But as you trade more of this time for conversation, the richness of these analog interactions will far outweigh what you're leaving behind.

1. Recruit the smallest group of people who can accomplish what must be done quickly and with high quality. Comparative Advantage means that some people will be better than others at accomplishing certain tasks, so it pays to invest time and resources in recruiting the best team for the job. Don’t make that team too large, however—Communication Overhead makes each additional team member beyond a core of three to eight people a drag on performance. Small, elite teams are best. 2. Clearly communicate the desired End Result, who is responsible for what, and the current status. Everyone on the team must know the Commander’s Intent of the project, the Reason Why it’s important, and must clearly know the specific parts of the project they’re individually responsible for completing—otherwise, you’re risking Bystander Apathy. 3. Treat people with respect. Consistently using the Golden Trifecta—appreciation, courtesy, and respect—is the best way to make the individuals on your team feel Important and is also the best way to ensure that they respect you as a leader and manager. The more your team works together under mutually supportive conditions, the more Clanning will naturally occur, and the more cohesive the team will become. 4. Create an Environment where everyone can be as productive as possible, then let people do their work. The best working Environment takes full advantage of Guiding Structure—provide the best equipment and tools possible and ensure that the Environment reinforces the work the team is doing. To avoid having energy sapped by the Cognitive Switching Penalty, shield your team from as many distractions as possible, which includes nonessential bureaucracy and meetings. 5. Refrain from having unrealistic expectations regarding certainty and prediction. Create an aggressive plan to complete the project, but be aware in advance that Uncertainty and the Planning Fallacy mean your initial plan will almost certainly be incomplete or inaccurate in a few important respects. Update your plan as you go along, using what you learn along the way, and continually reapply Parkinson’s Law to find the shortest feasible path to completion that works, given the necessary Trade-offs required by the work. 6. Measure to see if what you’re doing is working—if not, try another approach. One of the primary fallacies of effective Management is that it makes learning unnecessary. This mind-set assumes your initial plan should be 100 percent perfect and followed to the letter. The exact opposite is true: effective Management means planning for learning, which requires constant adjustments along the way. Constantly Measure your performance across a small set of Key Performance Indicators (discussed later)—if what you’re doing doesn’t appear to be working, Experiment with another approach.

The earlier the entrepreneurial mind-set is introduced in our young people, the more potent it can be. Start teaching young people to observe the needs of others and to think about how to satisfy those needs through voluntary trade and make a profit. When you see a store, discuss it. Point out prices. Point out quality. Raise their consciousness about ownership. Ask them who owns that building? What would that building sell for? How could we get money to buy that building? What problems does our community have? What new businesses would solve them?

Happiness is not just a mindset You trade it with silent penance, Sometimes in your violent cries with a grin to disguise. The toil makes you stoic yet crowns you strong. In the timidest moment of apprehensions you are made to nod to fake comprehension. Assimilate risks vs rewards, still nothing might seem to pay off, It is achieved when you elude capital punishment for uncommitted crimes. You can embrace it when you persist to elicit obscured fears, Yeah, happiness is not a mindset instead you mindfully harvest Happiness is to strategise circumstances for mental alacrity, social satisfaction, a sense of accomplishment and personal fulfilment to develop holistic aspects of wellbeing

Loth as one is to agree with CP Snow about almost anything, there are two cultures; and this is rather a problem. (Looking at who pass for public men in these days, one suspects there are now three cultures, in fact, as the professional politician appears to possess neither humane learning nor scientific training. They couldn’t possibly commit the manifold and manifest sins against logic that are their stock in trade, were they possessed of either quality.) … Bereft of a liberal education – ‘liberal’ in the true sense: befitting free men and training men to freedom – our Ever So Eminent Scientists nowadays are most of ’em simply technicians. Very skilled ones, commonly, yet technicians nonetheless. And technicians do get things wrong sometimes: a point that need hardly be laboured in the centenary year of the loss of RMS Titanic. Worse far is what the century of totalitarianism just past makes evident: technicians are fatefully and fatally easily led to totalitarian mindsets and totalitarian collaboration. … Aristotle was only the first of many to observe that men do not become dictators to keep warm: that there is a level at which power, influence, is interchangeable with money. Have enough of the one and you don’t want the other; indeed, you will find that you have the other. And of course, in a world of Eminent Scientists who are mere Technicians at heart, pig-ignorant of liberal (in the Classical sense) ideas, ideals, and even instincts, there is exerted upon them a forceful temptation towards totalitarianism – for the good of the rest of us, poor benighted, unwashed laymen as we are. The fact is that, just as original sin, as GKC noted, is the one Christian doctrine that can be confirmed as true by looking at any newspaper, the shading of one’s conclusions to fit one’s pay-packet, grants, politics, and peer pressure is precisely what anyone familiar with public choice economics should expect. And, as [James] Delingpole exhaustively demonstrates, is precisely what has occurred in the ‘Green’ movement and its scientific – or scientistic – auxiliary. They are watermelons: Green without and Red within. (A similar point was made of the SA by Willi Münzenberg, who referred to that shower as beefsteaks, Red within and Brown without.)

jack of all trades master of none but once you learn how to juggle you rarely drop the ball

Such rules and principles that deny and limit your freedom of speech and writing in whatever context are a mirror of a substandard mindset and the hegemony of private trade organizations and internet media. Indeed, they can be as dangerous as autocratic governments worldwide.

One broken window—a badly designed piece of code, a poor management decision that the team must live with for the duration of the project—is all it takes to start the decline. If you find yourself working on a project with quite a few broken windows, it's all too easy to slip into the mindset of "All the rest of this code is crap, I'll just follow suit." It doesn't matter if the project has been fine up to this point. In the original experiment leading to the "Broken Window Theory," an abandoned car sat for a week untouched. But once a single window was broken, the car was stripped and turned upside down within hours. By the same token, if you find yourself on a team and a project where the code is pristinely beautiful—cleanly written, well designed, and elegant—you will likely take extra special care not to mess it up, just like the firefighters. Even if there's a fire raging (deadline, release date, trade show demo, etc.), you don't want to be the first one to make a mess.

And I’m not kidding when I say “craziness.” The University of St. Gallen, Switzerland, has come out with a study that compares traders with psychopaths. The study reviewed the results from an existing study comparing 24 psychopaths in German high-security hospitals with a control group of 27 “normal” people. The funny thing is, this control group of “normal” people turned out to be traders. Stock guys, currency and commodity traders, and derivative types happened to be the normal control group that was stacked up against the high-security, barbed-wire-enclosed psychopaths. In the end, the performance of the trading group was actually worse than that of the psychopaths. The study indicated that traders, “Have a penchant for immense destruction,” and that their mindset would lead them to the logical conclusion of “beating one of the neighbor’s expensive cars with a baseball bat with the sole objective of owning the most beautiful car in the neighborhood.” In other words, traders are nuts. Indeed if you look up the textbook definition of a psychopath, here are some of the tidbits you’ll uncover: antisocial behavior, poor judgment and failure to learn from experience, inability to see oneself as others do, inexplicable impulsiveness … sounds like a typical trader who is struggling against the market and can’t figure out why.

A related character approach that operates under the trade name Brainology claims that one thousand schools are now using its “growth mind-set” based on Carol Dweck’s book, Mindset (2006). Dweck’s work is included on the suggested reading list used by Levin and Duckworth for their online course mentioned above. Brainology cites unpublished research that shows teaching the growth mind-set “boosts motivation and achievement

You will never find fulfillment trading the markets if you don't learn to appreciate and be satisfied with what you already have.

There is a huge amount of freedom that is derived from not fighting the market.

Empirically, it is advised when the Board suggests implementing a change, it’s essential to provide valuable alternatives if such a suggestion does not align with the goal sought to be achieved. Transparency and effective communication is the key for strategic decision-making. Facing challenging situations in the pursuit requires that professionals offer well-analyzed options to the Board ensuring that the company's best interests are upheld. Setting aside personal biases and egos is crucial for aligning with the Board’s common vision. Presenting a professional opinion backed by thorough analysis is the cornerstone of effective decision-making. Clearly outlining trade-offs and potential impacts guides informed choices. Approach decisions with a collaborative mindset, focusing on the organization's long-term success.

Redefining wrong allows us to let go of all the anguish that comes from getting a bad result. But it also means we must redefine “right.” If we aren’t wrong just because things didn’t work out, then we aren’t right just because things turned out well. Do we win emotionally to making that mindset trade-off? Being right feels really good. “I was right,” “I knew it,” “I told you so”—those are all things that we say, and they all feel very good to us. Should we be willing to give up the good feeling of “right” to get rid of the anguish of “wrong”? Yes. First, the world is a pretty random place. The influence of luck makes it impossible to predict exactly how things will turn out, and all the hidden information makes it even worse. If we don’t change our mindset, we’re going to have to deal with being wrong a lot. It’s built into the equation.

And it is here—at the level of the individual—where we inevitably find that the critical ingredients for turning an openness to new trade-offs into effective alignment are humility and empathy. An alignment mindset depends on humility to accept the reality that others will not blindly follow; and it depends on empathy to understand what will enable and inspire the productive followership that is the bedrock of a sustainable ecosystem structure. This is the critical guide for building trust, and for determining which trade-offs make sense for which partner, and when.

in a rising price environment, party culture and a gambling mindset take over. People think it is easy to make money, and it is fun. The stock market is a big giant casino where the odds are in favor of gamblers. The more you play, the more you win. However, the facts are precisely the opposite.

Ravi Dhar, professor at Yale University and the director of its Center for Customer Insights, is right when he says, “Most marketers assume that consumers are rational agents who weigh each option carefully considering all possible trade-offs, whereas in practice choices emerge out of intuitive processing that makes some option look more attractive than others.

We trade off between judgment and morale. When you come up with a plan, focusing only on its positives (“This is such a great idea!”) can help you work up enthusiasm and motivation to carry it out. On the other hand, if you scrutinize your plan for flaws (“What are the downsides? How might this fail?”), you’re more likely to notice if there’s a better plan you should switch to instead.

WE MAKE UNCONSCIOUS TRADE-OFFS This is one of the paradoxes of being human: that our beliefs serve such different purposes all at once. Invariably, we end up making trade-offs. We trade off between judgment and belonging. If you live in a tight-knit community, it might be easier to fit in if you use soldier mindset to fight off any doubts you have about your community’s core beliefs and values. On the other hand, if you do allow yourself to entertain those doubts, you might realize you’re better off rejecting your community’s views on morality, religion, or gender roles, and deciding to live a less traditional life.

If you are incredibly talented and extremely lucky, you will beat the market most of the time. Everybody else will be better off investing in low-cost broad-market index funds.

Investors are in the market to make money, not to prove or disprove academic discussions. Follow what works for you, and let others follow what works for them.

All technical indicators generate accurate signals along with a lot of false ones.

Sometimes our new mindset doesn't align with our old lives. We've spent our whole lives conquering the wrong mountain and now we are so afraid to leave the top. Though our new mindset would no longer allow us to be happy on this mountain, we are still hesitant. We were taught our whole life that life is one mountain. One career path, one relationship, one purpose, and one box. We are so scared to be at the foot of the right mountain. So used to being Kings and Queens that we are scared to get back to the foundation of the pyramid; a place where if you tell your new peers about your past while going through your new mountain's challenges, they won't believe. Most of the time we aren't happy because we're trading social acceptance for peace. How ignorant are we to think that life is just one mountain? God may bless us with 70 years to be productive, but we want to lay down in 5. Don't be scared to be at the foot of another mountain; because when you stop growing you die.

Identifying Market Direction Market direction, popularly known as “trend” in trading, is one of the most important concepts that you must follow for you to succeed in this industry. Just like you should sell at resistance zones and buy at support areas, you should always trade along the main market direction. You cannot be trying to sell when the majority of traders and the big players are pushing the market up. There is a common phrase that you will hear traders throwing around; that the trend is your best friend. Many traders hear about this concept, but they fail since they do not understand how to identify the main trend. Luckily for you, this guide will show you the best way to do it. Now, in the market, there are things known as peaks and troughs. The peaks are the highest points that you can see the market reaching before turning back. Troughs are the lowest points that the market reaches before going back up. Both of these are minor support and resistance points. If you connect the points using straight lines, you will end up with a zigzag formation. Peaks and troughs Uptrend When the peaks are formed in higher succession, we say the market is in an uptrend. If a new peak is formed higher than the previous one, we call it a higher-high. During an uptrend, the troughs are also formed in higher succession. In short, each new trough is positioned higher than the previous one. When this happens, we say a higher-low has been formed. Collectively, when a market is forming higher Highs and higher Lows concurrently, then an uptrend is formed. During this time, you should only look for buy trades. Downtrend A downtrend happens when the market starts making lower peaks and lower troughs in succession. In short, when a trough is formed lower than the previous one, we have a descending zigzag direction that we call a downtrend. During a downtrend market direction, lower Highs and lower Lows are formed. In a downtrend, you should only be looking for sell trades.

With innovation comes risk. Why don't big companies like risk, when innovation is so central to their future success? In my experience, risk calls to the forefront the possibility of failure. Big companies, especially those traded on public stock exchanges, are asked to deliver consistent quarter‐after‐quarter results to their shareholders. Almost by definition, big new ideas, whether new products or new ventures, with their high risk of failure that I noted in Chapter 1, simply don't fit. Why change something that seems to be working just fine?

Your hardest times In Trading often lead to the greatest moments of your life. Keep going. Tough Trading time build strong Traders in the end

craftsman approach to tool selection stands in opposition to the any-benefit approach. Whereas the any-benefit mind-set identifies any potential positive impact as justification for using a tool, the craftsman variant requires that these positive impacts affect factors at the core of what’s important to you and that they outweigh the negatives. Even though the craftsman approach rejects the simplicity of the any-benefit approach, it doesn’t ignore the benefits that currently drive people to network tools, or make any advance proclamations about what’s “good” or “bad” technology: It simply asks that you give any particular network tool the same type of measured, nuanced accounting that tools in other trades have been subjected to throughout the history of skilled labor.

An influencer has the mindset of “I would like to help you make decisions that are good for you.” A manipulator has the mentality of “I want to secretly control you to benefit myself.” Therefore, understanding the intention behind any given behavior is in large part deciding whether it is an example of covert emotional manipulation or not.

Development was, in other words, part of a policy mindset that linked international trade, military power and a programme of redistribution. What was to be redistributed was, it turned out, food. The Marshall Plan – the US aid programme to Europe in the immediate aftermath of the Second World War – had instigated, among other initiatives, the transfer of food to the hungry and possibly querulous European population in response to the post-war food shortages.

Desire is opportunity. It creates leverage. It was a basic rule of tradecraft.... A man without desire was invisible... There are no truly invisible men, Klay reminded himself. Every person wants something.

Money and Investing with Andrew Baxter looks at growing wealth and investment strategies for everyday Australians. Andrew Baxter is a highly regarded keynote speaker across a wide range of topics within the trading/investing and trader mindset space.Andrew has spoken alongside some of the world’s leading names, including Robert Kiyosaki, Anthony Robbins, Sir Richard Branson and Tony Blair.

6. No matter what, the chips stay on the table. Despite the “going all in” analogy, I don’t compare this life to gambling. In this game, the house doesn’t win because you stayed to play. Being an entrepreneur means thinking in years rather than months. The worst thing you could do in any cycle is trade a long-term risk for a short-term win. When it comes to building a seven-figure business, here’s the mindset you should take on: The longer you can keep your chips on the table, the bigger your end result is going to be. This means not taking an income from the business as soon as you’re profitable. It means keeping the profits in play for the business rather than for your own bank account. Put simply, it means reinvesting rather than recouping. The time frame I recommend for reinvesting profits is a year, at least. During that year, you’ll be working for very little payoff. You’ll be putting every dime you make back into the business. If you can stick it out, then you will increase your chances of success exponentially.

You need to take positions big enough that they make you feel legitimately at risk if things go wrong. You need to be able to drive the car fast enough to win the Grand Prix… But not so fast you slam into the wall.

People like to risk pennies to win dollars.