Good traders liquidate when they are wrong, great traders reverse when they are wrong

There are a million ways to make money in the markets. The irony is that they are all very difficult to find.

The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in the markets. The markets are a dynamic process, and sustained investment success requires the ability to modify and even change strategies as markets evolve.