7 Quotes To Encourage You Who Are Beginners in Forex Trading
Every successful trader starts with a beginner trader. No one suddenly immediately became a successful trader. Sometimes everything starts from zero.The journey from a beginner trader to a successful trader is not easy. Generally novice traders face significant obstacles in their first years of trading. For this reason, the success or failure of novice traders depends on how they overcome the obstacles in the world of trading. Common constraints experienced by beginners are usually like lack of capital, lack of trading knowledge, not having a trading system, lack of ability to control emotions etc. Even because the obstacles faced by beginners make them give up on trading.
Sometimes we need quotes or aphorisms that might inspire us to apply the positive things suggested in trading. Especially if the quotes are quoted directly from successful figures. Besides being wise, the experience they experience can be a quality inspiration for you that can keep you going. Immediately here are some quotes that you can make as encouragement:
Jack Bogle (time is your friend, success is not from speed)
“Time is your friend, desire is your enemy.” Meaning: successful trading is not determined by speed. This is because real trading success is how you can make the best use of your time to do in-depth analysis before trading. Don’t rush to plan a position just to meet your daily target. If it’s like that, you have been influenced by misleading desires that ultimately trigger overtrading
Stanley Druckenmiller (protect capital, because there is still tomorrow)
The second is a quote from a professional trader named Stanle Druckenmiller who says “The way to build long-term returns is to protect capital and maximize profits”. Meaning: the main goal of a trader is to be able to return to trading on tomorrow. It is useless if you try to get big profits but do not know how to protect capital. When trading, determine the highest possible profit and the lowest possible loss
Warren Buffett (chance of a golden rain, prepare a large bucket)
This one is certainly no stranger, Buffett said “Opportunities don’t always come. If there is a golden rain, prepare a large bucket, not a small container “. Meaning: there is no point in spending all the time in front of the chart if at execution. You can only collect 1-2 pips profit. When the opportunity comes, don’t be afraid to target big profits as long as it’s still possible
Bill Lipschutz (commitment and money as side bonuses)
This trader said: “Traders who really want to succeed must be committed to exploring the world of trading, and considering money as a side bonus”. This means that you will quickly be bored wading through the Forex market if it is not supported by passion. After all, forex trading is an activity that requires a lot of patience. You can even wait for months to get a valid trading signal, if you apply a long-term trading strategy .
Bill Lipschutz (Losing streak and recovery of trust)
This fifth quote is still from Bill Lipschjuts who says: “When you experience a losing streak, your ability to assimilate and analyze information correctly begins to deviate. The deviation is caused by deterioration in confidence. You have to work hard to restore that confidence and reduce trading size or trading size that can help achieve that “. Meaning: when a tarder experiences defeat is a natural thing if deviations occur in assimilating and analyzing emotions caused by decreased self-confidence. For this reason when you experience defeat you must try to build your confidence and not give up with defeat. How to overcome it you can reduce your trading size first
Bruce Kovner (novice trader who trades with oversized lots)
Bruce Kovner said: “My experience with beginner traders is that they always trade lot sizes three to five times too big. They risk 5 to 10 percent when they should take 1-2 percent risk. Though the emotional burden of trading is substantial, on any day, I can lose millions of dollars. if you personalize a loss like this, you cannot trade “. Meaning: most beginner trading traders with sizes that are too large at risk of great risk too. Even if you want, they can take a smaller risk. For this reason, if you are still a beginner, try to trade with a smaller size, so that the risk of losing you is not too large.
Jesse Livermore (no one is 100% always profitable)
The last is a quote from Jesse Livermore who says: “There are no trading rules that can be 100% profit all the time”. The meaning of loss is something that can not be avoided by anyone in the trading business. To overcome this, look for a profitable system that matches your trading style. the most important thing is you should not forget to apply it consistently in your trading everyday.
Of the many trading quotes or trading motivation quotes above, hopefully it can help those of you who are still novice traders to be even more excited. This is because sometimes a successful motivational quote can help you to remember your initial goal in trading. Well, this article may be useful