Death Quote by William Eckhardt

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

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

Amateurs go broke taking large losses, professionals go broke taking small profits.

— William Eckhardt

Good systems tend to violate normal human tendencies.

— William Eckhardt

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

What feels good is often the wrong thing to do.

— William Eckhardt

If the losses don't hurt, your financial survival is tenuous.

— William Eckhardt

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

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

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

You can be very promiscuous in your research, but not in your trading.

— William Eckhardt

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