Way of the turtle

particular issues because it is not something that I had to rise
above myself.
Another thing to consider is that I am not an expert in trading
psychology. For these reasons, although I have been able to observe
Mastering Your Demons
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firsthand the importance of psychological strength, I cannot offer
specific advice on how to build it beyond what is contained in this
book. Fortunately, there are others who have made a study of such
psychology and are able to offer specific advice to those who may
have a more difficult time trading than I did. Many have found the
writings of Van Tharp, Brett Steenbarger, Ari Kiev, and Mark
Douglas helpful in their own efforts to master their trading demons.
I encourage you to consider those sources.
Finally, my experience primarily has been as a trend follower. I
have explored and traded other styles, including day trading and
swing trading, and so I know that the principles outlined in this
book apply to those types of trading as well. Do not take my focus
on trend following to imply that this is the best way to trade. In fact,
trend following is probably not for most people. Each style requires
a particular psychological makeup that you may or may not pos-
sess. Matching your personality with its strengths and weaknesses
against a particular trading style is very important, and several of
the authors mentioned above can speak more authoritatively on
this subject.
Lessons from the Turtles
1.
Trade with an edge: Find a trading strategy that will produce
positive returns over the long run because it has a positive
expectation.
2.
Manage risk: Control risk so that you can continue to trade or
you may not be around to see the benefits of a positive expecta-
tion system.