“I’ve made phenomenal amounts of money for very simple decisions but I was willing to make them. Somebody had to. Others are looking for highly complex ways of interacting with the markets, when most of the time it’s only the simple ones that are going to work. ”
Ed Seykota
“To whatever degree you haven’t accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.”
Mark Douglas
“(So you didn’t have a clear exit point) In other words, the only way you could stop trading was by losing.”
Ed Seykota