[namstrader]

From Phantom of the Pits:

"So here is Rule Number one:
In a losing game such as trading, we shall start against the majority and assume we are wrong until proven correct! (We do not assume we are correct until proven wrong.) Positions established must be reduced and removed until or unless the market proves the position correct! (We allow the market to verify correct
positions.)"

Changing our thinking from the majority of traders and knowing that trading is a losers' game and not a winners' game, I want to learn to be wrong fast and without hesitation and face the pain of a losing position with behavior modification that acts unlike the majority of traders. It is so hard to act like the 5% that know it is a losers' game.