Nick Schmidt Quotes
36 Nick Schmidt quotes for traders and investors.
You will gain more confidence from the losses you cut short rather than from your big wins.
Your fear of losing money is ironically causing you to make bad decisions and lose more money.
Be willing to take advice from others who are more experienced than you, but ultimately make your own decisions.
The more pressure you put on yourself to make money in the market, the more difficult it becomes to actually make money.
The best traders have internal confidence. They don't listen to the noise around them. Instead, they focus on themselves and what they can control.
If you stop relying on someone else’s trades, you will be mind-blown by how fast you progress and how much you are capable of by yourself.
Most trading errors can be minimized by sizing down.
One undisciplined trade can undo months of progress.
No matter how confident you are when you place a trade, remember that the outcome will always be random.
Focus on your long-term goals and don't get discouraged by short-term setbacks.
Trading is not about being right all the time. It's about making money in the long run. The key is to focus on managing your risk so you actually keep what you make.
All of my biggest losses came after my biggest wins. Always stay humble. Arrogance is a quick way to lose money in the market.
The only way to become a good trader is to first be a bad trader.
Your trading will improve faster if you focus on one thing at a time. Don't study everything and then try to remember it all.
It is important to enjoy the process. If you don't, you won't stick with it long enough to be successful.
Discipline is more important than intelligence (without it, the market will eventually wipe you out).
Most traders don't develop the necessary discipline until they have felt the pain. That's how it worked for me.
If you are hesitating when it's time to execute, you haven't completely accepted that the outcome of every trade is out of your control. You can do everything right and still lose money.
You have to go through the bad trades to get to the good ones.
Trading is an art that you spend your whole life perfecting.
I think it's important to study the great traders instead of only studying great strategies.
You need to have a support system in place to help you through tough times.
The best traders think outside of the box. They think in a way that few other people do.
The moment you start thinking about how much money you can make, you're setting yourself up for failure.
To be great at trading, you need to put in the time and effort.
No trader is perfect, and everyone has losing streaks.
Trading is not black and white. There is no one-size-fits-all approach. New traders struggle so much because they are looking for answers that don't exist.
A big ego is a sign of inexperience. The best traders are humble because at some point during their journey, they got their ass handed to them by the market.
Respect risk. You can make progress for months and then undo all of it in one undisciplined trade.
The crowd will focus on complexity and try to reinvent the wheel. The best traders focus on simplicity and improve on what is known.
Good things take time, and trading is no different. You need to be patient and give yourself time to learn and grow.
The most successful traders are the ones who have taken the time to understand themselves and their own motivations.
The analysis is easy; it's the execution that's hard.
If you are unwilling to lose, you will spend too much time checking your trades, over-analyzing, and making bad decisions.
Preparation reduces overthinking.
Behind every successful trader there’s a lot of unsuccessful years.