Your prime objective is not to make money. Your prime objective is to follow the strategy you have developed. More importantly, your prime objective is to follow the process you have designed for yourself. If you follow the process, the outcome will take care of itself.

It meant they had plenty of small losses. Their back-testing had shown that if the strategy was to be traded correctly, it would work immediately. If it didn’t work immediately, the strategy called for the position to be closed.

It is not what you know that kills you. It is what you think you know, but which just isn’t so, that kills you.

“There is randomness in the outcome of one, but there is order in the outcome of 100.” He was talking about the coin-flip scenario.

Neurobiology has shown we experience a financial loss 250% more intensely than an equivalent financial gain. After going through this exercise of feeling pain and then not feeling pleasure, I then swap back to feeling the loss again.

“The best views come after the hardest climbs.” Proverbs

“In bull markets, resistance is often broken, and in bear markets support rarely holds.”

If you developed a system where you lost a unit on your losses, and you made 1.5 units on your wins, you have yourself a good business.

BUT you must believe me when I say that in order to get what you want, you need to think like the 1%. In fact, you don’t even need to think like the 1%. You just need to not think like the 99%.