Star Wars fan or not, I think we can all agree that Yoda has some great lines that apply directly to trading. I spent my weekend rewatching all 3 of the classic Star Wars movies, and jotted down some good trading quotes from our green friend. Master Yoda has some very quotable quotes that while they won’t make you an overnight success, they are great in theory.
If you want to use your Jedi skills on a futures trading evaluation, be sure to check out my Reviews of Funded Futures Trading Programs. I update it daily.
“Do or do not. There is no try.”
Take the trade, or don’t take the trade. Be a trader or don’t. You need to really commit and take the leap, otherwise don’t bother leaping at all, because you won’t reach the other side. There’s no half measures in trading unfortunately. There’s no amateur league to move up the ranks. And there’s definitely not much forgiveness if you do try to tread lightly. With all this in mind, give it your all.
“You will know when you are calm, at peace. Passive.”
How you can identify the good trade entry from the bad, is when you’re analyzing with a clear mind. How you achieve this can vary. Make sure you can focus in whatever environment you are in. Meditate before trading. Wear noise canceling headphones so there will be no distractions. Another way would be to analyze when you don’t have any positions in the markets. Just watch, observe, see what is happening. When you are clear headed, good trades will pop off the screen.
“Focus on the here and now.”
This is a big reason why I scalp. I don’t care about a chart that shows whats happened the last hour, the last day, the last month. What matters most is what is happening right now. Watching the ebb and flow of trades being made, what are buyers and sellers doing and how can I capitalize on that activity here and now.
“Adventure. Excitement. A Jedi craves not these things.”
Nor should a trader crave these things. I’ve fallen victim to this myself many a time, and only with time and a clear focus on changing this behaviour was I able to overcome it. Trading isn’t a casino. It sure feels like it though sometimes (especially trading NQ, my arch nemesis). Bet on red or black, bet up up or down. Same thing. This clearly applies to trading, successful traders aren’t in this business for the adventure or excitement. Successful trading is quite boring really. Watching, waiting for the trades to develop. It’s really the opposite of excitement.
“Do not overlook the obvious.”
Sometimes when we have a strong bias, or we really want to believe something that isn’t there, we tend to miss simple things which the markets are telling us right. Sometimes things will be simple and right in front of us. Capitalize on the obvious trades, they can often times be the best trades.
“That is why you fail.” (not believing)
This was in reply to Luke saying he couldn’t believe. Trading takes belief in many areas, in your methods, your analysis, your setups, in your psychology. If you lack belief in any aspect, you won’t be able to follow the rules especially during a losing streak. It’s one thing to say you believe, but you have to be honest with yourself if you actually believe. To reach success, you must believe.
“Control, control, you must learn control!”
Yoda would be a fantastic day trader. We must focus on the things we can control. In trading with so much uncertainty, we have to focus on what we can control. We can control when to participate in the market, we can control how much money we want to risk on each trade, we can control our responses to the ups and downs in trading. We control when to walk away.
Mastering control in all forms whether it’s specific trading rules or our psychology is most important.
Bonus Quotes
These may or may not relate to trading, but I think they ring true for myself.
- “Always pass on what you have learned.” – this is why I made a site and YouTube channel.
- “Patience you must have my young Padawan.” – one of the holy trinity of trading.
- “Difficult to see. Always in motion is the future.” – he could well be talking about trading.
Conclusion
Who knew when I was a kid watching the Star Wars movies that decades later I’d be drawing on the wisdom of Yoda. The next time you are wrapped up in trading, take a step back and ask yourself “what would Yoda tell me in this situation?”
Be Notified Of New Trader Evaluation Promotions
Submit your email if you want to be notified of new trader evaluation promotions. I never spam nor sell anything. Usually 2-3 emails a month are sent with the latest deals.
Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.