Alexander Elder famous quotes

Last updated: Sep 5, 2024

The goal of a successful trader is to make the best trades. Money is secondary.
-- Alexander Elder

#Successful #Goal #Traders
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.
-- Alexander Elder

#Regret #Real #Eye
Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.
-- Alexander Elder

#Business #Odds #Challenges
When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.
-- Alexander Elder

#Winning #Risk #Beginners
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

#Space #Focus #Psychology
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

#Successful #Space #Focus
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 â€“ remove one and the stool will fall, together with the person who sits on it.
-- Alexander Elder

#Fall #Psychology #Together
Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.
-- Alexander Elder

#Ignorance #Games #Discipline
Losers bring money into the market which is necessary for the prosperity of the trading industry.
-- Alexander Elder

#Loser #Prosperity #Trading
The markets are unforgiving, and emotional trading always results in losses.
-- Alexander Elder

#Loss #Emotional #Results
The market does not know you exist. You can do nothing to influence it. You can only control your behavior.
-- Alexander Elder

#Doe #Influence #Behavior
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.
-- Alexander Elder

#Successful #Thinking #Ice

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