Alexander Elder Quotes About Trading

• Losers bring money into the market which is necessary for the prosperity of the trading industry.

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  Alexander Elder

  Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.5, John Wiley & Sons

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• Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.

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  Alexander Elder

  Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.12, John Wiley & Sons

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• The markets are unforgiving, and emotional trading always results in losses.

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  Alexander Elder

  Alexander Elder (2014). “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management”, p.16, John Wiley & Sons

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• 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.

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  Alexander Elder

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• 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.

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  Alexander Elder

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• The goal of a successful trader is to make the best trades. Money is secondary.

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  Alexander Elder

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• 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.

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  Alexander Elder

  Fall   Psychology   Together  

  Alexander Elder (1993). “Trading for a Living: Psychology, Trading Tactics, Money Management”, p.17, John Wiley & Sons

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• 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.

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  Alexander Elder

  Psychology  

  Alexander Elder (2002). “Come Into My Trading Room: A Complete Guide to Trading”, p.46, John Wiley & Sons

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