A Quote by Alexander Elder

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

Quote Topics

Analysis Aware Beginners Buy Capital Choosing Deciding Depends Each Feelings Firm Focus Futures How Manage Markets Mass Method Mind Money Needs Operate Options Own Professionals Psychology Pulling Pulling The Trigger Rules Sell Space Specific Stocks Successful Three Trading Trigger Well Your

Quote Author

Alexander Elder
Author
Born: 1950

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 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 Elder

Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.

Paul Tudor Jones

Life can be lived at a remove. You trade in futures, and then you trade in derivatives of futures. Banks make more money trading derivatives than they do trading actual commodities.

Sebastian Faulks

You know how on the evening news they always tell you that the stock market is up in active trading, or off in moderate trading, or trading in mixed activity, or whatever. Well, who gives a

Dave Barry

The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don't cut their losses short.

Victor Sperandeo

Your trading needs to boil down to rules, money management, and that is it.

Michael Covel

I started trading stocks, options and futures while I was at UCLA, using my earnings from working summers at the old IBM plant on Cottle Road. I never lost interest in how companies work. It's fundamental to who I am.

Michael Burry

Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.

Paul Tudor Jones

We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?

Nassim Nicholas Taleb

The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading.

Victor Sperandeo

Traditionally, companies have made major announcements before or after the close of trading so that all interested investors and analysts are apprised of the news before trading resumes in their stocks.

Alex Berenson

Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is testimony to the fact that the majority is wrong a lot of the time. The vast majority is wrong even more of the time. I've learned that markets, which are often just mad crowds, are often irrational; when emotionally overwrought, they're almost always wrong.

Richard Dennis

Regardless of what we think we know and should happen the reality is that a lot of stock action is random. Therefore, money management is crucial if you want to be successful as a trader. To me, it`s the cornerstone of both making a living at trading and building wealth.

Jeff Cooper

Anyone who claims to be intrigued by the "intellectual challenge of the markets" is not a trader. The markets are as intellectually challenging as a fistfight. Ultimately, trading is an exercise in self-mastery and endurance.

Ralph Vince

You're already a financial trader. You might not think of it in just this way, but if you work for a living, you're trading your time for money. Frankly, it's just about the worst trade you can make. Why? You can always get more money, but you can't get more time.

Tony Robbins

A Quote by Alexander Elder

Quote Topics

Quote Author

Related Quotes

Related Authors