A Quote by William Eckhardt
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.
Related Quotes
In the garment trades, on the other hand, the presence of a body of the disfranchised, of the weak and young, undoubtedly contributes to the economic weakness of these trades.
Hence, within the space of two generations there has been a complete revolution in the attitude of the trades-unions toward the women working in their trades.
The commerce of intellect loves distant shores. The small retail dealer trades only with his neighbor; when the great merchant trades he links the four quarters of the globe.
All trades, arts, and handiworks have gained by division of labor... Where the different kinds of work are not distinguished and divided, where everyone is a jack-of-all-trades, there manufactures remain still in the greatest barbarism.
We must not fall into the mistake of thinking that it is America that trades with Taiwan or Europe that trades with Asia. The truth is that it is American companies that trade with Taiwanese companies.
Rome's just a city like anywhere else. A vastly overrated city, I'd say. It trades on belief just as Stratford trades on Shakespeare.
The goal of a successful trader is to make the best trades. Money is secondary.
The idea of a financial transaction tax on Wall Street trades is gaining momentum. I have a bill called - nicknamed the Robin Hood tax also. It's a bill that taxes stock trades, derivatives and bonds, and would generate in the neighborhood of $300 billion a year.
When you're trading well, you have a better mental attitude. When you're trading poorly, you start wishing and hoping. Instead of getting into trades you think will work, you end up getting into trades you hope will work.
On the New York Stock Exchange, all buy and sell orders are routed through a single 'specialist,' guaranteeing that most small trades can be matched directly. But most larger trades are delivered to the specialist on the floor of the exchange by human brokers, a system that big investors view as increasingly inefficient.
Our regulatory bodies strive to create honest dealings, fair trades, and a situation in which no one has an advantage over anyone else. But human beings aren't honest. And all trades are made because one person thinks he's getting the better of the other, and the other person thinks the same.
The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades. They are also able to feel the pain of losing. If you don't feel the pain of a loss, then you're in the same position as those unfortunate people who have no pain sensors. If they leave their hand on a hot stove, it will burn off. There is no way to survive in the world without pain. Similarly, in the markets, if the losses don't hurt, your financial survival is tenuous.
The formula for the parameters of a unilateral solution are: To maximize the number of Jews; to minimize the number of Palestinians; not to withdraw to the 1967 border and not to divide Jerusalem.
Trades happen in the NBA. I've had a lot of teammates in my six years, so I know kind of how it works.
If you make any trades during the year, keep a record of each transaction for at least three years.
The good traders are the ones who can hold their ground the majority of the month and participate in that small handful of trades that are windfalls. The real skill is in not LOSING money!
Related Authors
Jeff Yass Quotes
American
Trader
Jerome Kerviel Quotes
French
Trader
Jesse Lauriston Livermore Quotes
American
Trader
Linda Bradford Raschke Quotes
American
Trader
