Market Wizard William Eckhardt

Some might know who this market wizard is who focused on systematic trading. He is also worth $200 million in his peak. Not bad. Here are some quotes from the referring article:

“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 is the least important performance statistic and may even be inversely related to performance.” – 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

“Amateurs go broke taking large losses, professionals go broke taking small profits.” – William Eckhardt

“I take the point of view that missing an important trade is a much more serious error than making a bad trade.” – William Eckhardt

“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 horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.” – 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 it gets there.” – William Eckhardt

Build and protect your wealth by watching this video

Don't miss out!

You will received instantly the download links.

Invalid email address
Give it a try. You can unsubscribe at any time.