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To: Julius Wong who wrote (5987)	2/4/2021 8:46:31 AM
From: The Ox	3 Recommendations Recommended By jazzlover2 Julius Wong Return to Sender Read Replies (2) \| Respond to of 8239

One of the best traders I've known used to say, my boss loves me. I have more losing trades than winners. He'd laugh and then add: I cut my losers quickly and my gains are massive! I don't think he lost 2/3s of his trades but the key principle is don't wish for a loser to turn into a winner. Set the parameters before you enter a position and get out if it doesn't go according to plan. There will be plenty of trades that turn up after you get out but you only know this in hindsight. No reason to worry, stick to the discipline. It will pay huge rewards, unless you simply don't know how to identify solid trade setups. This is advice on trading but, if one is wise, it can be put in place for long term buy and hold investors. Keeping in mind, that if it's a good investment, it will pay off handsomely down the road. What struck me the most about his speech was that he said 2/3's of his stock picks were losers. But he closed his losers early for a modest loss and let his winners win.