“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst trades after long periods of winning. When you're on a big winning streak, there's a temptation to think that you're doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.” ThinkingWayLongMadeImportantBigsHappensNextWinningStrongTermLossDecisionImagineWorstSpecialEmotionalPeriodsWeakTradeProfitTemptationSomething SpecialStreaksInsidious Author: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.” MayImportantSuccessDesireWinningNumbersLosingPerformancesTradeRateRelatedTradingKey To SuccessRecipe For SuccessTradersMaximizingMinimizing Author:William Eckhardt
“I take the point of view that missing an important trade is a much more serious error than making a bad trade.” ImportantViewsMissingSeriousTradeErrorsPoint Of View Author:William Eckhardt
“Large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst investments after long periods of winning.” ThinkingLongMadeImportantWinningTermLossWorstEmotionalPeriodsInvestmentProfitInsidious Author:William Eckhardt
“I haven't seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren't. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.” PeopleImportantEnoughPsychologyHavensEmotionalIntelligentAverageHorribleMakeupTradingOutstandingTradersCorrelation Author:William Eckhardt
