Alexander Elder Quotes

8 Sourced Quotes

The market does not know you exist. You can do nothing to influence it. You can only control your behavior.

Alexander Elder

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.

Alexander Elder

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.

Alexander Elder

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.

Alexander Elder

Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.

Alexander Elder

The markets are unforgiving, and emotional trading always results in losses.

Alexander Elder

Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.

Alexander Elder

When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.

Alexander Elder

Alexander Elder

Alexander Elder

Born: 1951 (age 73)

Bio: Alexander Elder, M.D., is a Russian-American professional trader and a teacher of traders. He is the author of Trading for a Living, considered a modern classic among traders.

Known for:

Trading for a Living (1993)
Come into my trading room (2002)
Sell and Sell Short, Study Guide (2008)
Study Guide for The New Trading for a Living (2014)

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