Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

William Eckhardt
Quite
Average
Seen
Havens
Traders
Enough
Intelligence
Correlation
Many
Intelligent
Trading
Important
Haven
Outstanding
Much
Aren
Makeup
Good
Emotional
Psychology
People
Beyond
Horrible

More quotes by William Eckhardt

Image
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
Image
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
Image
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 idea is that what works most of the time is nearly the opposite of what works in the long run.
William Eckhardt
Image
What feels good is often the wrong thing to do.
William Eckhardt
Image
Investing is a negative game emotionally. If you're playing for the emotional satisfaction, you're bound to lose, because what feels good is often the wrong thing to do. When all the criteria are in balance, do the thing you least want to do.
William Eckhardt
Image
Large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst investments after long periods of winning.
William Eckhardt
Image
Amateurs go broke taking large losses, professionals go broke taking small profits.
William Eckhardt
Image
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
Image
Good systems tend to violate normal human tendencies.
William Eckhardt
Image
If the losses don't hurt, your financial survival is tenuous.
William Eckhardt
Image
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 by taking large losses, professionals go broke by taking small profits.
William Eckhardt
Image
You can be very promiscuous in your research, but not in your trading.
William Eckhardt
Image
I take the point of view that missing an important trade is a much more serious error than making a bad trade.
William Eckhardt