0 ratings (0.0 avg)
0 reviews

Brentyy Williams

Brentyy’s Bookshelves

Stats | More…

“There are good trading systems out there, but they have to be monitored and adjusted using individual judgment. You have to stay on the ball—you cannot abdicate responsibility for your success to a mechanical system.”
― Alexander Elder, The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

2 likes

“People trade for many reasons—some rational and many irrational. Trading offers an opportunity to make a lot of money in a hurry. Money symbolizes freedom to many people, even though they often don't know what to do with it.”
― Alexander Elder, The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

2 likes

“The answer is to draw a line between a businessman's risk and a loss. As traders, we always take businessman's risks, but we may never take a loss greater than this predetermined risk.”
― Alexander Elder, The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

4 likes

“The New Sell & Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines (John Wiley & Sons, 2011).”
― Alexander Elder, The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

1 likes

“A loser's true problem is not account size but overtrading and sloppy money management. He takes risks that are too big for his account size, however small or big. No matter how good his system may be, a streak of bad trades is sure to put him out of business.”
― Alexander Elder, The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

1 likes

More of Brentyy’s quotes…