Alexander Elder quotes
-
“The goal of a successful trader is to make the best trades. Money is secondary.”
-- Alexander Elder -
“To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.”
-- Alexander ElderSource : Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.3, John Wiley & Sons
-
“Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.”
-- Alexander ElderSource : Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.12, John Wiley & Sons
-
“When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.”
-- Alexander ElderSource : Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.11, John Wiley & Sons
-
-
“Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.”
-- Alexander ElderSource : Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.46, John Wiley & Sons
-
“Successful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital.”
-- Alexander Elder -
“Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it.”
-- Alexander ElderSource : Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.17, John Wiley & Sons
-
“Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.”
-- Alexander ElderSource : Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.1, John Wiley & Sons
-
-
“Losers bring money into the market which is necessary for the prosperity of the trading industry.”
-- Alexander ElderSource : Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.5, John Wiley & Sons
-
“The markets are unforgiving, and emotional trading always results in losses.”
-- Alexander ElderSource : Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.16, John Wiley & Sons
-
“The market does not know you exist. You can do nothing to influence it. You can only control your behavior.”
-- Alexander ElderSource : Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.39, John Wiley & Sons
-
“Most private traders on a losing streak keep trying to trade their way out of a hole. A loser thinks a successful trade is just around the corner, and that his luck is about to turn. He keeps putting on more trades and increases his size, all the while digging himself a deeper hole in the ice. The sensible thing to do would be to reduce your trading size and then stop and review your system.”
-- Alexander Elder -
You may also like:
-
Ari Kiev
Author -
Benjamin Graham
Investor -
Edwin Lefevre
Journalist -
George Soros
Business magnate -
Jack D. Schwager
Author -
Jesse Lauriston Livermore
Stock trader -
Michael Covel
Author -
Nassim Nicholas Taleb
Author -
Peter Lynch
Businessman -
Robert Kiyosaki
Investor -
Robert Prechter
Author -
Martin S. Schwartz
Trader -
Nicolas Darvas
Author -
William O'Neil
Entrepreneur