Winning Principles for trading

• In life, if you risk everything enough times you will eventually lose everything. Instead, just move in the direction of your goals every day, so even with setbacks, in the long run you will get to where you are going.
• Before making any decision in life, the question: “What do I have to lose?” is a serious question. This should precede, “What do I have to gain?” If the answer is: I could lose $100, but if I am right I could gain $500 and my odds of being right are 50% – then you have a good risk reward profile. If it is reversed, then you have a bad risk reward scenario and should pass. These are also questions you must ask in your marriage, job, business, or friendships before making decisions you regret.
• Failure to admit when you are wrong can be disastrous. When you are going down the wrong road it is better to turn back sooner rather than later. Never fight a war for a hill of bones, because even if you win, all you have is a hill of bones and regret over what it cost you.
• When you have..

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