The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in the markets. The markets are a dynamic process, and sustained investment success requires the ability to modify and even change strategies as markets evolve.
Jack D. SchwagerGood traders liquidate when they are wrong, great traders reverse when they are wrong
Jack D. SchwagerTraders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price
Jack D. Schwager