Tuesday, June 19, 2007

Trading discipline

While we are on the subject of discipline in how we evaluate our trades and holdings.. I have a quote that it worthy of being printed here:


"The lame man who keeps the right road outstrips the runner who
takes a wrong one. Nay, it is obvious that when a man runs the wrong way, the
more active and swift he is the further he will go astray"

... Francis Bacon, English philosopher 1561-1626


What this means is that as traders if were in a bad trade then don't make it worse by trying to run faster (add more money to it). Slow down, take your money out (change your sneakers), and find the right road (put your money in the better stock). And let the correct path guide you to riches..

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