I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it.

Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.

I don’t predict a nonexisting future.

Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.

To avoid whipsaw losses, stop trading.

Everybody gets what they want out of the market.

Good traders trade. Good letter writers write letters.