If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a… — William Eckhardt Copy Share Image
One common adage...that is completely wrongheaded is: You can't go broke taking profits. That's precisely how many traders do go broke. While amateurs go… — William Eckhardt Copy Share
I know of a few multimillionaires who started trading with inherited wealth. In each case, they lost it all because they didn't feel the… — William Eckhardt Copy Share
Amateurs go broke taking large losses, professionals go broke taking small profits. — William Eckhardt Copy Share
In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be… — William Eckhardt Copy Share
It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies. — William Eckhardt Copy Share
Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if… — William Eckhardt Copy Share
Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if… — William Eckhardt Copy Share
The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of… — William Eckhardt Copy Share
If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there… — William Eckhardt Copy Share
The market likes to lull you into the false security of high success rate techniques, which often lose disastrously in the long run. The… — William Eckhardt Copy Share
People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored… — William Eckhardt Copy Share
