Learn from the Pros: Trading Quotes from Trading Legends

SP:SPX   S&P 500 Index
Speculation is as old as the hills, says one of the world’s best traders of all time, Jesse Livermore. In this blog, we give you the best quotes by the best traders — use them to get inspired and realize that success in trading is possible.

Paul Tudor Jones, hedge fund manager, founder of Tudor:

“I always believe that prices move first and fundamentals come second.”

“If I have positions going against me, I get right out; if they are going for me, I keep them. Risk control is the most important thing in trading.”

“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.”

Stanley Druckenmiller, family office manager, founder of Duquesne:

“I don't really like hedging. To me, if something needs to be hedged, you shouldn't have a position in it.”

“I like putting all my eggs in one basket and then watching the basket very carefully.”

“Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. It takes courage to ride a profit with huge leverage.”

George Soros, hedge fund manager, founder of Soros Fund Management:

“It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.”

“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”

“My peculiarity is that I don't have a particular style of investing or, more exactly, I try to change my style to fit the conditions.”

Ray Dalio, hedge fund manager, founder of Bridgewater Associates:

“In trading you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money.”
“Diversifying well is the most important thing you need to do in order to invest well.”

“To make money in the markets, you have to think independently and be humble.”

Jesse Livermore, stock trader, portrayed in “Reminiscences of a Stock Operator”:

“It never was my thinking that made the big money for me. It was always my sitting.”

“It is literally true that millions come easier to a trader after he knows how to trade, than hundreds did in the days of his ignorance.”

“There is nothing new on Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.”

Let’s hear from you!

What’s your favorite trading quote or maybe a favorite trader? Let us know in the comments!

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