“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett

“Trading doesn’t just reveal your character; it also builds it if you stay in the game long enough.” – Yvan Byeajee

“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager

“The market is essentially designed to cause traders to do the wrong thing at the wrong time. The market turns our cognitive tools and psychological quirks against us, making us our own enemy in the marketplace. It is not so much that the market is against us; it is that the market sets us against ourselves.” – Adam H. Grimes

“There are old traders and there are bold traders. But there are no old, bold traders.” –  Anon

“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes

“Risk comes from not knowing what you’re doing.” – Warren Buffett

“Trading is very competitive and you have to be able to handle getting your butt kicked.” – Paul Tudor Jones

“Everyone has a plan ’till they get punched in the mouth.” – Mike Tyson

“Never, ever argue with your trading system” – Michael Covel

“Do more of what works and less of what doesn’t.” – Steve Clark

“Do not anticipate and move without market confirmation – being a little late in your trade is your insurance that you are right or wrong.” – Jesse Livermore

“Most traders take a good system and destroy it by trying to make it into a perfect system.” – Robert Prechter

Buy when there’s blood in the streets.” – Baron Rothschild

“Be fearful when others are greedy and greedy only when others are fearful.” – Warren Buffett

“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein

“The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros

“Do not be embarrassed by your failures, learn from them and start again.” – Richard Branson

“The trend is your friend, until the end when it bends.” – Ed Seykota

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.” –-Sir John Templeton

“Insanity is doing the same thing over and over and expecting different results.” – Albert Einstein

“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” – Bill Lipschutz

“I know where I’m getting out before I get in.” – Bruce Kovner

“There is a time to go long, a time to go short and a time to go fishing.” – Jesse Livermore

“In trading/investing, it’s not about how much you make but rather how much you don’t lose.” – Bernard Baruch

“Do more of what works and less of what doesn’t”. – Steve Clark

“I have two basic rules about winning in trading as well as in life: 1. If you don’t bet, you can’t win. 2. If you lose all your chips, you can’t bet.” – Larry Hite

“If you personalise losses, you can’t trade.” – Bruce Kovner

“The elements of good trading are (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota

“Letting losses run is the most serious mistake made by most investors.” – William O’Neil

“Accepting losses is the most important single investment device to ensure the safety of capital.” – Gerald M. Loeb

“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” -Victor Sperandeo

“It’s ok to be wrong; it’s unforgivable to stay wrong.” – Martin Zweig

“Markets are never wrong, opinions often are.” –-Jesse Livermore

“Cut your losses and let your winners run.” –-Jesse Livermore

“The first rule of compounding is to never interrupt it unnecessarily.” – Charlie Munger

“I’m actually as proud of the things we haven’t done as the things I have done.” – Steve Jobs

“Human psychology has evolved to make quick judgments, often based on emotion and instinct (e.g., heuristics) – traits that, while useful in everyday life, can be detrimental in trading.” – Anon

“Diversification is protection against ignorance.” – Warren Buffett

“The market is never obvious. It is designed to fool most of the people, most of the time.” – Jesse Livermore

“Speculation is not gambling. Gambling is betting on hope. Speculation is observing the truth and acting on it, even when the truth makes no sense.” – Michael Covel

“Given a ten percent chance of a 100 times payoff, you should take that bet every time.” – Jeff Bezos

“In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” – Peter Lynch

“Don’t look for the needle in the haystack. Just buy the haystack!” – John Bogle

“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Phillip Fisher

“In investing, what is comfortable is rarely profitable.” – Robert Arnott

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen

“Risk is what’s left over when you think you’ve thought of everything.” – Carl Richards

“In flying, I have learned that carelessness and overconfidence are usually far more dangerous than deliberately accepted risks.” – Wilbur Wright

“The only true wisdom is in knowing you know nothing.” – Socrates

“The biggest risk of all is not taking one.” – Mellody Hobson

“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” – Paul Samuelson

“The four most dangerous words in investing are, it’s different this time.” – Sir John Templeton

“Wide diversification is only required when investors do not understand what they are doing.” – Warren Buffett

“In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.” – Anon

“The most contrarian thing of all is not to oppose the crowd but to think for yourself.” – Peter Thiel

“I could not live without Champagne. In victory I deserve it. In defeat I need it.” – Winston Churchill