Thought of the Day…

“The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades. They are also able to feel the pain of losing. If you don’t feel the pain of a loss, then you’re in the same position as those unfortunate people who have no pain sensors. If they leave their hand on a hot stove, it will burn off. There is no way to survive in the world without pain. Similarly, in the markets, if the losses don’t hurt, your financial survival is tenuous.”

– William Eckhardt 

4 thoughts on “Thought of the Day…

  1. Hi 50,
    This guy william Eckhardt sure knows the REAL issues of trading. very relevant ideas and quotes from this one source.

    have a good one today!

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