William Eckhardt Quotes

Enjoy the top 17 famous quotes, sayings and quotations by William Eckhardt.

William Eckhardt Quotes

If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, youll gravitate toward the majority and inevitably lose.
— 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.

— William Eckhardt

People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something. People tend to view the prices they're used to as normal and prices removed from these levels as aberrant. This perpective leads people to trade counter to an emerging trend on the assumption that prices will eventually return to "normal". Therein lies the path to disaster.

— William Eckhardt

What feels good is often the wrong thing to do.

— William Eckhardt

The market likes to lull you into the false security of high success rate techniques, which often lose disastrously in the long run. The general idea is that what works most of the time is nearly the opposite of what works in the long run.

— William Eckhardt

You can be very promiscuous in your research, but not in your trading.

— William Eckhardt

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