Broke Quote by William Eckhardt
“Amateurs go broke taking large losses, professionals go broke taking small profits.”
About This Quote
Source Book: Market Wizards by Jack D Schwger, 2000
Large losses can ruin a trader quickly, while many small profits erode capital over time.
In simple terms: Big losses are riskier than many small gains.
Key Takeaway
Beware of frequent small wins.
Themes
risk management
trading psychology
capital preservation
Mood
cautious
analytical
Type
advisory
practical
When to use this quote
- day trading
- portfolio management
- investment strategy
- risk assessment
Key Concepts
probability
expected value
behavioral bias
Questions to Reflect On
- Are your small gains sustainable?
- How do you balance risk and reward?
A Different Perspective
Small profits can mask systemic issues and lead to complacency.
![“The winning investor’s objective should be to have one or two big winners rather than dozens of very small profits” (How to Make Money in Stocks, 4th ed. [New York: McGraw-Hill, 2009], 274).” quote by Gil Morales](https://sms4smile.com/quotes/img-quotes/6c2/gil-morales-57961_investing_the-winning-investor-s-objective-should_1369978.jpg)
