William Eckhardt Quotes
- 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…
- If the losses don't hurt, your financial survival is tenuous.
- 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 it…
- 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 pain…
- The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades. They are also…
- 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…
- It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies.
- 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 emotionally…
- 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 it…
- 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 broke…
- The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades…
- What feels good is often the wrong thing to do.
- People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to…
- Amateurs go broke taking large losses, professionals go broke taking small profits.
- The market likes to lull you into the false security of high success rate techniques, which often lose disastrously in the long run. The general…
- Good systems tend to violate normal human tendencies.