Gil Blake Quotes
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If you break a discipline once, the next transgression becomes much easier.
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Whenever I take a position, I like to imagine what it would be like under the worst-case scenario. In doing so, I minimize the confusion if that situation actually develops. In my view, losses are a very important part of trading. When a loss happens, I believe in embracing it.
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The critical ingredient is a maverick mind. Focus on trading vehicles, strategies and time horizons that suit your personality. In a nutshell, it all comes down to: Do your own thing (independence); and do the right thing (discipline).
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Opportunities change, strategies change, but people and psychology do not change. If trend-following systems don’t work well, something else will. There’s always money being lost, so someone out there has to win.
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First of all, most traders don't have a winning strategy. Second, even among those traders who do, many don't follow their strategy. Trading puts pressure on weaker human traits and seems to seek out each individual's Achilles' heel.
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