William Eckhardt [A Quote]

“Anyone with average intelligence can learn to trade. This is not rocket science. However, it’s much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies. Of the people who can learn the basics, only a small percentage will be successful traders.

If a betting game among a certain number of participants is 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, you’ll gravitate toward the majority and inevitably lose.”

William Eckhardt, from The New Market Wizards: Conversations with America’s Top Traders

One Comment

  1. Myke
    re: LOPE

    “The company plans to sell 1 million shares and expects to use the proceeds from the sale for working capital, among others.

    As part of the offering, 5 million shares are being sold by the company’s largest outside investor Endeavour Capital and the Richardson family, including Executive Chairman Brent Richardson and General Counsel and Director Christopher Richardson.

    Grand Canyon said it will not receive any of the proceeds from the sale of common stock by the selling stockholders.

    Shares of the company were up 82 cents at $17.32 in morning trade Tuesday on Nasdaq. They touched a high of $17.80 earlier in the session.

    Based on this report —- LOPE should drop to 16.50. “

Leave a Reply

Your email address will not be published. Required fields are marked *