Day Traders Quotes & Sayings

My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can't trade. — Bruce Kovner

In early 2013, one of the largest high-frequency traders, Virtu Financial, publicly boasted that in five and a half years of trading it had experienced just one day when it hadn't made money, and that the loss was caused by "human error." In 2008, Dave Cummings, the CEO of a high-frequency trading firm called Tradebot, told university students that his firm had gone four years without a single day of trading losses. This sort of performance is possible only if you have a huge informational advantage. — Michael Lewis

When I was getting ready for the release of 'Deadline,' when it was coming out soon, I decided that the appropriate way to get people excited about the book would be to write a novella in 30 pieces and publish a piece on my blog every day for a month ... during a convention, a week-and-a-half-long trip to New York, and a doll traders' expo. — Seanan McGuire

The best traders have trading habits, daily routines they repeat day after day. — Henrique M. Simoes

Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't. — Arthur Levitt Jr

I hope I need not confess that a large part of my stock in trade consists of platitudes rescued from the cobwebbed shelves of yesterday ... This borrowing and refurbishing of shop-worn goods, as a matter of fact, is the invariable habit of traders in ideas, at all times and everywhere. It is not, however, that all the conceivable human notions have been thought out; it is simply, to be quite honest, that the sort of men who volunteer to think out new ones seldom, if ever, have wind enough for a full day's work. — H.L. Mencken

We're talking to every third-party supplier every day of the week, and our traders are talking to them and buying products from them. When we're doing that, we see opportunities which no one else sees. — Ivan Glasenberg

Traders and quants are genuinely different species. Traders pride themselves on being tough and forthright while quants are more circumspect and reticent. These differences in personality are reflections of deeper cultural preferences. Traders are paid to act. All day long they watch screens, assimilate economic information, page frantically through spreadsheets, run programs written by quants, enter trades, talk to salespeople and brokers, and punch keys. It's hard to have an extended conversation with a trader during the business day; it takes an hour of standing around to have five minutes of punctuated repartee. Part of what traders do has a video game quality. In consequence, they learn to be opinionated, visceral, fast-thinking, and decisive, though not always right. They thrive on interruption. Quants — Emanuel Derman

So far as inland discovery was concerned, the adventurous spirit of the English was that of sailors who land but for a day, and their enterprise the enterprise of traders. — Henry David Thoreau