These 12 Words Save My Butt Over And Over Again

If you haven’t read any of the “Market Wizards” books by Jack D. Schwager,
you should. They are an incredible insight into the thought processes of the
greatest traders of our time. Every time I go through these books, I find “words
of wisdom” that effect my trading in a positive way.

One of my favorite is from Linda Bradford Raschke, “You have to be able to
take what the market gives you.”

I think of this line daily when I trade. There are often times, when I am in
a position, and my trading signal tells me to get out, and the trade will still
be a loser for me. Sometimes, I begin to think maybe I should just hold on for
one more day so that I can make a profit out of this trade. Then, I think, “you
have to be able to take what the market gives you.” Often times, these same
trades begin trading even lower the next day after I’ve gotten out. So thank you
Linda for teaching me this important lesson. For whatever reason, the market
doesn’t always give you want–just take what you can get.

Steven Gabriel