The Power of Choice
Anyone who says she/he can never lose is an accomplished fabricator. Anyone who says their strategy doesn’t lose is also a distinguished fabricator. Losses are a blessing in disguise because they’re the secrets that help us become better traders. When you lose money with a good strategy, after being faithful to it, it’s up to you to decide whether to quit or continue.
There was a legendary trader who made and lost fortunes in the markets. We got much to learn from such a great trader, so that we know what’s behind his success and imitate him. We also want to know the cause of his failure so that we can avoid that in our trading. The truth about trading is timeless and it will forever be. Humans drive the markets, and as such, various human emotions are reflected in price actions. When things go wrong, we want to make sure that the effects on our portfolios are minimal.