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.
Ed SeykotaI 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.
Ed SeykotaTrying to trade during a losing streak is emotionally devastating. Trying to play 'catch up' is lethal.
Ed Seykota