have strong opinions, hold them weakly (words from masters)

"(trading) wisdom

is the capability to have

'strong opinions, weakly held'

--

weak opinions have a negative impact on trading.

master traders are decisive.

to make money, you need to take trades.

as a practical matter,

this means developing models for how the market works,

testing them,

and then making live trading decisions using those models.

traders need strong opinions about how the market works

to make critical trading decisions.

many people have trouble pulling the trigger.

if you have weak opinions, you will find this even more difficult!

--

(but you should hold these strong thoughts weakly)

you should (trade) as if you are right,

but also look and listen as if you might be wrong.

this requires a certain level of humility and openness.

--

strong opinions should be weakly held.

expert traders are constantly on the lookout

for why their thinking might beflawed.

when you place a trade,

you should pay far more attention

to signals that

the market is acting in a manner that indicates the trade is wrong and should be discarded

than to the reasons why the trade should be kept."



- Curtis Faith