” Stopping out of a position may give the appearance of defeat, but it is not meant to necessarily signal total defeat. While others may see it that way, you must never be fooled. Stopping out of losing positions is the only sure way to maintain survival in difficult conflicts and to achieve the complete victory that is your aim. To learn how to live to fight another day is the best advice that all traders can be given. Not only is it the smart thing to do, but in the long run, the prevention of injury will act as a major building block of total victory. The warrior trader retreats not just to fight another day, but to fight a better day.”
– Clifford Bennett
This correlation was too good to pass up.
“The golden rule is best seen as a consistency principle. It doesn’t replace regular moral norms. It isn’t an infallible guide on which actions are right or wrong; it doesn’t give all the answers. It only prescribes consistency — that we not have our actions (toward another) be out of harmony with our desires (toward a reversed situation action). It tests our moral coherence. If we violate the golden rule, then we’re violating the spirit of fairness and concern that lie at the heart of morality.”
50, i won’t be offended if you don’t agree or feel comfortable posting, it just seems somewhat parallel to what Clifford Bennett’s thoughts on what stops are to trading. (i’m a dork)
😉