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… — William Eckhardt Adages 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… — William Eckhardt Better off Copy Share Image
Amateurs go broke taking large losses, professionals go broke taking small profits. — William Eckhardt Broke 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… — William Eckhardt Bigs Copy Share Image
If the losses don't hurt, your financial survival is tenuous. — William Eckhardt Driving 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… — William Eckhardt Easier 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… — William Eckhardt Focus 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… — William Eckhardt Business Copy Share Image
You can be very promiscuous in your research, but not in your trading. — William Eckhardt Promiscuous 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… — William Eckhardt Desire Copy Share Image
If a betting game among a certain number of participants I played long enough, eventually one player will have all the money.… — William Eckhardt Accelerate Copy Share Image
The market likes to lull you into the false security of high success rate techniques, which often lose disastrously in the long… — William Eckhardt Cybersecurity Copy Share Image
People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must… — William Eckhardt Assumption Copy Share Image
Investing is a negative game emotionally. If you're playing for the emotional satisfaction, you're bound to lose, because what feels good is… — William Eckhardt Balance Copy Share Image
I take the point of view that missing an important trade is a much more serious error than making a bad trade. — William Eckhardt Errors Copy Share Image
I haven't seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren't. Many outstanding… — William Eckhardt Average Copy Share Image
The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades.… — William Eckhardt Able Copy Share Image
Large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally… — William Eckhardt Death Copy Share Image
