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To: jaubin who wrote (27553)3/8/2019 10:52:45 PM
From: riversides2 Recommendations

Recommended By
immuha
jaubin

  Respond to of 38975
 
Respect your trading rules.

Losing all you have can teach you many lessons, but only if you can fight your way back, have you shown that you actually learned from your mistakes. Jesse Livermore talks a lot about the importance of respecting your rules and learning from failures:

1 – What beat me was not having brains enough to stick to my own game. […] there is the Wall Street fool, who thinks he must trade all the time.

2 – The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street among the professionals who feel that they must take home some money every day, as though they were working for a regular wage.

3 – It never was my thinking that made me the big money for me. It always was my sitting.

4 – It is almost as important to know what not to do as to know what should be done.