Given the mentally trying nature of trading, you really can use all the support and motivation you can get. These ten quotes about trading offer inspiration and insight that can help you stay with it during the hard times and inspire you to become a better trader.
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Trading is not for the faint of heart and we must always remember that 90% of traders lose, so preparation is key. Even with a lot of hard work and preparation, it can be a challenging profession at times, fraught with risk and potential loss. However, the benefits and financial rewards can make it all worthwhile for those who are up to the challenge.
1. “All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
What is truly holding you back from realizing your dreams? Honestly, in most cases, it’s the individual in question who is holding him or herself back. While many are quick to give all kinds of excuses, really, it comes down to believing in yourself and having the courage to go after what you want. That is no small feat, but if you do have the courage, the rewards can be staggering, both financially and personally, in terms of your self worth. By enrolling in the Tim Sykes Millionaire Challenge, you can gain the skills and confidence to move forward toward financial freedom.
2. “The starting point of all achievement is desire.” – Napoleon Hill
Before you can become a millionaire, you need to want to become a millionaire. So, my question is this: how badly do you want it? There are definite indicators that you are ready to embark on your journey toward success: one of the most powerful is that you want it. From there, it’s a matter of figuring out how to make it happen.
3. “You must expect great things of yourself before you can do them.” – Michael Jordan
To get serious about becoming a better trader and attaining more financial success, you must define what success means to you. What are your goals? What do you hope to achieve in life? By defining these goals, you’ll be defining the great things that you expect of yourself. It’s necessary to do this before you can attain these great things. I put a huge emphasis on goal-setting with members of the Tim Sykes Million Challenge team.
4. “The only place where success comes before work is in the dictionary.” – Vidal Sassoon
This is just so true. Simply wanting to become rich or become a trader won’t make it true. You have to be willing to do what is necessary to get there. Sometimes, this can put you in an uncomfortable place where you’ll be a beginner and will have to learn new skills from scratch. Remember, you are working toward your goals.
5. To be successful you must accept all challenges that come your way. You can’t just accept the ones you like. – Mike Gafka
Listen up to that last quote about trading. It can be easy to embrace the parts of trading that come naturally to you. However, this can’t be at the expense of overlooking necessary tasks or forgoing continued self improvement. You need to adopt the good habits of successful traders: educating yourself, doing research, and keeping an eye on the market, to name a few. Without equipping yourself to deal with things, you’ll be keeping yourself from getting ahead.
6. “If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein
There is never a point at which you know trading inside and out. Times change, the market changes and you must remain nimble. You must keep on learning. That having been said, there are certain aspects of trading that practice can make perfect. I have devoted my life to training and have learned things in such a way that I can easily pass them on to others. Mywas designed so that I could have a forum to pass on my understanding of the market so far, in hopes that it will help you on your way.
7. “I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas A. Edison
If you look at your so-called “failures” as being life shattering events, you won’t last long as a trader. Mistakes, money lost, bad decisions: they’re things that happen to all traders, whether they have been trading for a month or 50 years. The hope is that as you make mistakes, you learn from them and don’t make the same one twice.
8. “Failure is the condiment that gives success its flavor.” – Truman Capote
This goes hand in hand with the last quote and sentiment. As noted above, when you experience a so-called failure, it can be a powerful teacher. This can in the long run make you a stronger trader, and it also teaches you a powerful lesson about gratitude. When you do pass that million dollar mark, you won’t take it for granted. You will see it as the culmination of so much of what you’ve done and learned.
9. “If you’re going through hell, keep going.” – Winston Churchill
Trading gets hard sometimes. There will be natural ebb and flow, but sometimes it feels like you’re on a downward spiral.
Times like these are when you show your true character as a trader. Do you want to be known as the one who gave up when things got tough? Or to be seen as the visionary who was able to stick it through and made big profits in the long run? You decide.
10. “Success is…knowing your purpose in life, growing to reach your maximum potential, and sowing seeds that benefit others.” – John C. Maxwell
There’s a reason why I give so much to charity, and it’s not for greatshots. It’s because I have been fortunate enough to make a lot of money as a trader, and it’s the right and responsible thing to do to help others get ahead in the world. A better world means more opportunities and more success for more people. This is not such a bad thing.
Becoming a successful trader requires vision, tenacity, and plenty of hard work. By reading through these ten tidbits of wisdom, hopefully you’ll have more clarity on your trading journey.
Which of these is your favorite inspirational quote about trading? Everyone is influenced differently so there’s no wrong answer, but please leave a comment below and tell me which one you like best!