Good traders liquidate when they are wrong, great traders…
“Good traders liquidate when they are wrong, great traders reverse when they are wrong”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Successful traders admit mistakes and adjust strategy decisively.
In simple terms: Admit errors, change course.
Reverse positions when wrong.
Themes
Mood
Type
When to use this quote
- stock market
- forex
- options trading
Key Concepts
Questions to Reflect On
- How do you recognize a mistake?
- When to stay the course?
Reversals can increase transaction costs.