Trading Is A Losers\' Game

Trading is a losers' game. He who manages to lose well wins in the end. Always remember this. Make it your second nature. It will save you much headache and lots of $$$.

Learn to be wrong, fast.

As stated by "Phantom of The Pits" as rule No. 1 in trading:

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.)