A doctor can evade the truth that he or she made a mistake and tell the relatives of a deceased patient, “I did my best, but….” A lawyer can drink too much the night before his final address to the jury, and when he loses, convince himself and his client that the jury was biased. But a trader has no one to convince, no one to lie to. The market is the final judge, and it issues its verdict every day. I therefore think that understanding how the false pride system works can be crucially important to a successful and lasting career as a trader, speculator or investor.
– Victor Sperandeo, Methods of a Wall Street Master
