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Alexander Elder

The New Trading for a Living

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  • Carlhas quoted5 years ago
    The short-term pleasure of eating was stronger for her than the delayed pleasure and health benefits of weight loss.
  • Anindya Khas quoted6 years ago
    A proper plan is a written one. You need to know exactly under what conditions you will enter and exit a trade. Don't make decisions on the spur of the moment, when you are vulnerable to being sucked in by the crowd.
  • Anindya Khas quoted6 years ago
    proper plan is a written one. You need to know exactly under what conditions you will enter and exit a trade. Don't make decisions on the spur of the moment, when you are vulnerable to being sucked in by the crowd.
  • Anindya Khas quoted6 years ago
    You need to be aware of your tendency to sabotage yourself. Stop blaming your losses on bad luck or on others, and take responsibility for your results. Start keeping a diary—a record of all your trades, with reasons for entering and exiting them.
  • Anindya Khas quoted6 years ago
    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
  • Anindya Khas quoted6 years ago
    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
  • Anindya Khas quoted6 years ago
    Do you have any idea how much slippage costs you?

    There is only one way to find out: write down the price at the time you placed a market order, compare it with your fill, and multiply the difference by the number of shares or contracts
  • iamsadiasaeedhas quoted6 years ago
    Develop a money management plan. Your first goal must be long-term survival; your second goal, a steady growth of capital; and your third goal, making high profits. Most traders put the third goal first and are unaware that goals 1 and 2 exist
  • iamsadiasaeedhas quoted6 years ago
    Do not get greedy and rush to trade—take your time to learn. The markets will be there, offering more good opportunities in the months and years ahead.
  • iamsadiasaeedhas quoted6 years ago
    To win in the markets, we need to master
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