Markets are up and roaring for another week — with everyone's ears perked up listening for how the trade war / not trade war situation plays out between the United States and China.
But while you can't control what President Donald Trump or President Xi Jinping do, you can control your entries, stops and exits. Here are some of our favorite quotes to get you motivated this week.
"There are old traders and there are bold traders, but there are very few old, bold traders." — Ed Seykota
"If you make a good trade, don't think it's because you have some uncanny foresight. Always maintain your sense of confidence, but keep it in check." — Paul Tudor Jones
"I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline." — Richard Dennis
"I assume that the price for a market on any given day is the correct price, then I try to figure out what changes are occurring that will alter that price." — Bruce Kovner
"I learned that an opinion isn't worth that much. It is more important to listen to the market. I became a reactive trader as opposed to an opinionated trader." — Brian Gelber
"Trading is like any other job. You work hard, put in the time and effort, and make your own luck. I was lucky that the first 100-lot I sold was a winner. But why was I lucky? Because I stood there all day for over six months, developing and honing market feeling." — Tom Baldwin
"I realized that this chipping away approach was what I should be doing, not putting myself at a big risk, trying to collect a ton of dough." — Tony Saliba
"You should review your rules at the beginning of the day and review your trading at the end of the day. If you followed your rules, even if you lost money, pat yourself on the back." — Dr. Van K. Tharp
"If a position doesn't feel right as soon as you put it on, don't be embarrassed to change your mind and get right out." — Michael Marcus
What risk management do you set for yourself?