I haven't seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren't. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important. — 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 Image
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 Image
Amateurs go broke taking large losses, professionals go broke taking small profits. — William Eckhardt Copy Share Image
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 Image
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 Image
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 Image
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 Image
You can be very promiscuous in your research, but not in your trading. — William Eckhardt Copy Share Image
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 Image
