Trading advice from Ramesh Damani
A Tradingqna user pointed to a video of Ramesh Damani where he says, Trading is always done by slip book & not chequebook & asked what it meant. Ramesh explains this other version of maybe the most important rule in trading & life, Cut your losers & Hold on to the winners.
Thanks, Ramesh, for taking the time to share the response to my cold email. 😃 Here is the link to the full post.
Most retail traders lose money because they do the opposite, i.e., cut winners & hold on to the losers, a guaranteed way to lose money trading. This is because traders let their egos get in the way, or they have too much money at stake, which makes them behave irrationally.