Forex trading advice from 25 of the world's top traders

For many traders, the experience of a top trader is always invaluable, and the trading skills they rely on to succeed are the most powerful guides to teach you how to successfully survive in your trading career until you succeed.

Today, I bring you the trading advice of 25 of the world's top traders:

1. Money is not made by trading, but by sitting. "Money is made by sitting, not trading." - Jesse Livermore

2. "Throughout my career in finance, I've seen examples of people failing because they didn't respect risk. If you don't take risk seriously, it can destroy you." - Larry Hite

3. "Letting losses grow is the worst mistake most investors can make." - William O'Neil

4. Michael Marcus (another top trader) taught me a very important thing: you have to be willing to be wrong from time to time; there is nothing wrong with being wrong. Michael told me, try to make the best judgment, if you are wrong, then make the best judgment, if you are wrong again, make the best judgment a third time, and you can double your money. - Bruce Kovner

5. Trading taught me the hard way. That's when I said to myself: "Big fool! Why take such a huge risk in a trade? Why make life miserable instead of pursuing happiness?" - Paul Tudor Jones

6. "There are three elements of a good trade: (1) stop loss; (2) stop loss; and (3) stop loss. If you follow these three rules strictly, you may still have a chance to succeed in your trade." - Ed Seykota

7. "If I lose money in the market, I'm going to be out. It doesn't matter which market I trade in. I'm going to be out anyway, because once I lose money, it's hard to be objective about your next trading decisions... If the market completely deviates from your expectations and you insist on staying on the market, sooner or later you will be eliminated." - Randy McKay

8. "To be honest, I never look at the market, I only look at risk, reward and funding." - Larry Hite

9. When a trade goes through, I'm thinking: "I made the right decision. But if I'm wrong, there's nothing left. I need to accumulate funds because there's always another trade." - Marty Schwartz

10. "I always limit risk, so I don't have to worry about anything else at all." - Tony Saliba

11. "The key to successful trading is controlling your emotions. If IQ were the key, there would already be a large number of people making profits... I know it sounds a bit cliché, but the most common reason traders lose money in financial marekt is that they don't stop losses in time." - Victor Sperandeo

12. "I think investment psychology is by far the most important factor, followed by risk control and finally where to buy and sell." - Tom Basso

13. "If the market goes against me, I go out immediately. If it goes against me, I stay in the position... Risk control is the most important thing in trading. If a losing position gives you a bad mood, it's simple: get out because you'll always have a chance to get back in the trade." - Paul Tudor Jones

14. "I realized early on that there is nothing new on Wall Street. Nothing new can happen because speculative trading is so old. Everything that happens in the market has happened in the past and will happen again. I will never forget that." - Jesse Livermore

15. "Learn to accept losses. To make a profit, the most important premise is not to let losses exceed your tolerance. - Marty Schwartz"

16. "Trading non-stop, regardless of market conditions, is the source of losses on Wall Street, including many professional traders. They have a sense of urgency that they have to make a profit every day, even if they are only paid a regular salary." - Jesse Lovermore

17. "The goal of a successful trader is to make the best trades. Profit should come second." - Alexander Elder

18. "I have found over the years that it is very important to take a few days off to relax after making a profit in the market. People tend to work hard until they can't make a profit. But experience has taught me that a good break in the middle can prolong the momentum of this success." - Marty Schwartz

19. "As long as I lose money, I keep reducing my investment in trading... My money management skills are very conservative. I never invest most of my account funds, let alone all of my assets." - Randy McKay

20. "If you're a good trader, that means you're probably right 6 out of 10 trades. You can't be right 9 out of 10." - Peter Lynch

21. "It takes 20 years to build a business and five minutes to destroy it. Knowing that can change the way you do things." - Warren Buffett

22. "Investments that make you feel right are usually not profitable." - Robert Arnott

23. "I'm always thinking about losing, not making a profit. Don't focus on making a profit, focus on protecting what you have." - Paul Tudor Jones

24. "Markets are always in a state of perpetual change and uncertainty, and trends that are too obvious can be an illusion. Trade unexpected moves so you can make a profit." - George Soros

25. "When a crocodile hunts, it must first understand its prey, know where to find it, and remain calm and patient until it appears. As traders, we need to know where our strengths are, how to take advantage of them, and then the thing to do is to self-manage and not over-trade until a good opportunity arises." - Nial Fuller

In the face of bewildering financial marekt, when human greed is burning, the return of reason seems so insignificant. What you are told here is just "words", and believe that the real "warning" can only be obtained with bloody failure "lessons". Because people don't believe what they hear, they only believe what they see.