I did precisely the wrong thing. The cotton showed me a…
“I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
The quote warns against averaging losing trades, advising to sell losing positions and keep winning ones.
In simple terms: Don't average losses; sell losers, keep winners.
Key Takeaway
Follow disciplined trading rules.
Themes
finance
discipline
risk management
Mood
reflective
practical
Type
advice
observation
When to use this quote
- stock market investing
- personal finance
- day trading
Key Concepts
trading strategy
loss aversion
behavioral finance
Questions to Reflect On
- What rules do you follow to avoid averaging losses?
- How can you improve decision‑making under uncertainty?
A Different Perspective
Markets can be unpredictable; discipline may not guarantee success.