Losing a position is aggravating, whereas losing your nerve is devastating.
The idea of searching for some secret for trading success misses the point.
The markets are the same now as they were five or ten years ago because they keep changing-just like they did then
The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.
The trend is your friend except at the end where it bends.
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.