Alexander Elder
The goal of a successful trader is to make the best trades. Money is secondary.Collection: Success
Remember, your goal is to trade well, not to trade often.Collection: Goal
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.Collection: Regret
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.Collection: Space
The market does not know you exist. You can do nothing to influence it. You can only control your behavior.Collection: Doe
Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.Collection: Business
When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.Collection: Winning
The markets are unforgiving, and emotional trading always results in losses.Collection: Loss
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.Collection: Successful
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.Collection: Fall
Losers bring money into the market which is necessary for the prosperity of the trading industry.Collection: Loser
Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.Collection: Winning
Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.Collection: Ignorance
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.Collection: Successful