"Cut your losses short and let your winners run," famously attributed to Jesse Livermore, is a foundational trading quote emphasizing discipline. Other legendary quotes include Warren Buffett's "Be fearful when others are greedy, and greedy when others are fearful," and "The market is a device for transferring money from the impatient to the patient".
George Soros. This next one comes from one of the most successful Forex traders of our time. It's not whether you're right or wrong that's important, it's how much money you make when you're right and how much you lose when you're wrong.
Rule 1: Always Use a Trading Plan
A decent trading plan will assist you with avoiding making passionate decisions without giving it much thought. The advantages of a trading plan include Easier trading: all the planning has been done forthright, so you can trade according to your pre-set boundaries.
Warren Buffett's famous quotes emphasize long-term value investing, patience, understanding what you own, and emotional discipline, with memorable lines like "Price is what you pay. Value is what you get," "Be fearful when others are greedy and greedy when others are fearful," and "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price". He stresses integrity, learning, and the importance of reputation and understanding your limitations.
Jesse Livermore's most famous quotes emphasize market psychology, patience, and the importance of trends, with key ones including: "The stock market is never obvious. It is designed to fool most of the people, most of the time," "It never was my thinking that made big money for me. It always was my sitting. Got that? My sitting tight!" and "There is nothing new on Wall Street or in stock speculation," highlighting market history's cyclical nature. He stressed emotional control and waiting for clear opportunities rather than acting on tips or constant trading.
It is this: I never buy at the bottom and I always sell too soon. Profits always take care of themselves but losses never do. All a person needs to do is observe what the market is telling him and evaluate it. You can beat a horse race, but you can't beat the races.
1. George Soros. George Soros, often referred to as the «Man Who Broke the Bank of England», is an iconic figure in the world of forex trading. His net worth, estimated at around $8 billion, reflects not only his financial success but also his enduring influence on global markets.
"The stock market is a device for transferring money from the impatient to the patient" – Warren Buffett. Warren Buffet needs no introduction. Easily the most celebrated investor of all time, Buffet has inspired millions to learn and invest in the market.
Warren Buffett's Rule No. 1 in investing is famously "Never lose money," followed by Rule No. 2: "Never forget Rule No. 1," emphasizing capital preservation and risk management above all else to ensure long-term success by avoiding significant losses, which are hard to recover from.
Principle 1: Stay Calm and Avoid Panic Selling
Buffett often emphasizes that “the stock market is designed to transfer money from the active to the patient.”2 He cautions against emotional decision-making during market downturns, noting that selling out of fear often leads to significant losses.
Run profits, not losses: If a profitable trade wants to become more profitable, let it be. If a trade is going wrong, why watch it get worse. Recovering losses is even harder work.
Most common mistakes traders make: Sticking to a losing trade. Holding onto a losing position too long is a costly mistake, driven by hope and reluctance to accept a small loss. Traders often cling to their initial analysis or fear regret, expecting the market to reverse.
It turns out the full quote actually reads: “Jack of all trades master of none, though oftentimes better than master of one.”
There's no single "most famous" quote, but top contenders often include Shakespeare's "To be, or not to be: that is the question," Neil Armstrong's "That's one small step for man, one giant leap for mankind," and famous lines from Martin Luther King Jr. ("I have a dream") or the Bible ("The truth will set you free"), alongside universally recognized proverbs like Lao Tzu's "A journey of a thousand miles begins with a single step".
It is often defined as the point where supply meets demand, as it's the price that buyers and sellers agree on. When trading derivative products, on either side of the quote price (also known as market price) are 'buy' and 'sell' quotes – also known as the offer and bid prices.
The 3-5-7 rule in stock trading is a risk management strategy: risk no more than 3% of capital on a single trade, keep total open position risk under 5%, and aim for a minimum 7% profit target or 7:1 reward-to-risk ratio, ensuring capital preservation and disciplined growth by setting clear limits and avoiding emotional decisions.
Ramsey Breaks Down the Numbers
“The stock market was up, the S&P in 2023, 26%. The stock market was up in 2024, 25%,” he said on a recent episode of “The Ramsey Show.” “The stock market was up in 2025, 16%. That's a total of 67% in three years.”
The "90-90-90 rule" in trading is a harsh reality check stating that 90% of new traders lose 90% of their money within the first 90 days, highlighting the high failure rate due to emotional decisions, poor risk management, and lack of education/strategy. It serves as a cautionary tale, emphasizing that success requires discipline, a solid trading plan, continuous learning, and strict risk control (like risking only 1-2% per trade) to avoid the common pitfalls that wipe out most beginners.
Buffett, explaining his long-term investing approach, wrote: “Be fearful when others are greedy and greedy when others are fearful.” Buffett's maxim isn't just smart investing advice. It's a masterstroke of messaging.
Jesse Livermore. Jesse Lauriston Livermore (July 26, 1877 – November 28, 1940) was an American stock trader. He is considered a pioneer of day trading and was the basis for the main character of Reminiscences of a Stock Operator, a best-selling book by Edwin Lefèvre.