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Alexander Elder

Alexander Elder Quotes

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Famous Alexander Elder Quotes

“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.”

NeedsMindWellsFeelingsThreeSpaceSuccessfulPsychologyFocusDependsMassMethodSellsManageFirmAnalysisPullingTradingTriggersBeginnersTradersStock OptionsPulling The Trigger
Author: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.”

NeedsPersonsTogetherFallThreeIndividualSoundPsychologyMastersEssentialsManagementLegsWinnerRemoveLogicalTradingComponentsMoney ManagementStoolsGood MoneyThree Legs
Book:Trading for a Living: Psychology, Trading Tactics, Money Management
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“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.”

ThinkingNeedsRealEyeTurnsEnergyRegretWasteTradeTrendsWasting TimeWishful ThinkingTraders
Book:The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management
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