From The Crosshairs Trader:
I had the pleasure of attending a recent meeting of the CFA Society of NC with my friend Derek Hernquist. Dennis Gartman, well known trader and publisher of the well respected Gartman Letter, was the sponsored guest and speaker.
Mr. Gartman gave what I consider to be one of the best discussions about the importance of admitting when you are wrong. Beginning traders especially have a hard time admitting when a trading decision is the wrong one. Yet, as you will soon find out - if you have not done so already - admitting you are wrong and closing out a losing trade quickly and with a small loss is...
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More from Dennis Gartman:
Legendary trader Gartman: The euro is "doomed"
Legendary trader Gartman: Gold is "hyper-overbought"
Top trader Gartman: How to profit from skyrocketing wheat prices
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