These inspirational quotes on trading psychology are designed to help those traders who struggle with the psychological and emotional state.
Traders' psychological state affects performance and decisions. Traders need to be disciplined to adhere to previously established trading plans and emotions should not be involved.
There are a lot of stories in this section, here are the best quotes on the trading psychology.
● Quote 1:
“Hope is bogus emotion that only costs you money.” – Jim Cramer
This is one of the famous crypto trading quotes, while several people were buying cryptocoins and pray for prices to go up, still the results were disastrous.
● Quote 2:
“You need to know very well when to move away, or give up the loss, and not allow the anxiety to trick you into trying again.” – Warren Buffett
Losses affect the trader's inner psycho, and the result may be harmful, so take a break when things go wrong.
● Quote 3:
“Trade What’s Happening… Not What You Think Is Gonna Happen.” – Doug Gregory
This is the one of the most reliable forex trading quotes.
● Quote 4:
“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” – Jesse Livermore
Self-restraint is an essential element in trading.
● Quote 5:
“When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well… If you stick around when the market is severely against you, sooner or later they are going to carry you out.” – Randy McKay
Your psychology state may lead to decisions you might not have expected, and you may throw yourself at higher risks without stopping.