When you have a position, you put it on for a reason, and you've got to keep it until the reason no longer exists.
Richard DennisI always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline.
Richard DennisI learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.
Richard DennisThere is another point that I think is as important: You should expect the unexpected in this business; expect the extreme. Donโt think in terms of boundaries that limit what the market might do. If there is any lesson I have learned in the nearly twenty years that Iโve been in this business, it is that the unexpected and the impossible happen every now and then
Richard Dennis