What sounds intelligent in a conversation or a meeting, or, particularly, in the media, is suspicious.
Heroes are heroes because they are heroic in behavior, not because they won or lost.
A mistake is not something to be determined after the fact, but in the light of the information until that point.
At a given time in the market, the most successful traders are likely to be those that are best fit to the latest cycle. This does not happen too often with dentists or pianists – because these professions are more immune to randomness.
Loyalty to ideas is not a good thing for traders, scientists – or anyone.
For instance, you study every day and learn something in proportion to your studies. If you do not feel that you are going anywhere, your emotions will cause you to become demoralized. But reality rarely gives us the privilege of a satisfying linear positive progression: You may study for a year and learn nothing, then, unless you are disheartened by the empty results and give up, something will come to you in a flash.