“Protecting capital is more important to me than being right”

July 11, 2016
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A few wise words from Peter Brandt…

“The need to protect my pile of chips is stronger than my need to engage every trade I see…I am willing to try a significant pattern twice but then go shopping elsewhere. That is really what my trading is all about…..
take a shot at a pattern that makes sense, wash out the losers quickly and hang onto at least a portion of the winners for as long as feasible.It is a pretty simple formula requiring patience and a ton of discipline”

 

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