The Blog · Since 2011
Chart Addict
Where the charts do the talking.
I've been charting markets for nearly 20 years — from the prop desk in Scottsdale to holding longer and longer on the weekly charts. I work top-down: monthly for the big picture, weekly for the trend, daily for entries.
Here you'll find my charts of interest, setups and notes on stocks, indices and crypto, plus 15 years of archives.
Interviews With William Eckhardt
Follow @JFDI
"One common adage on this subject that is completely wrongheaded is: you can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits. The problem in a nutshell is that human nature does not operate to maximize gain but rather to maximize the chance of gain. 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
Interviews I've found
"One common adage on this subject that is completely wrongheaded is: you can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits. The problem in a nutshell is that human nature does not operate to maximize gain but rather to maximize the chance of gain. 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
Interviews I've found