The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.
Ed SeykotaMarkets are fundamentally volatile. No way around it. Your problem is not in the math. There is no math to get you out of having to experience uncertainty.
Ed SeykotaA losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That's the kind of thing winning traders do.
Ed SeykotaLuck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.
Ed Seykota