I have been around the block a few times in the investing arena and have seen a lot of ideas and read a ton of books. After reading Andy’s new book Win Big, Lose Small, and carrying on an email conversation with him, I realised he had taken the overall concept of trend following, added some of his own concepts, and made the combined result his own strategy.
He emphasises letting winners run and cutting losses short, a maxim followed by so many good traders over the decades. One very large profit can pay for many small losses, so managing the risks and losers becomes extremely important.
Andy’s philosophy towards ignoring the news and maintaining your happiness is like my own. I try to keep my emotional balance as neutral as possible. Being too excited with a big winner or being down over a recent loss is not helpful to good trading, and he captures that very nicely. In my opinion, the mental advice in this book is excellent.
His examples and stories make it an easy-to-read book on investing. Everyone who reads it should come away with one or more good ideas to try in their own trading. Enjoy the read and the ride!
Former President, Trendstat Capital Management, Inc.
Founder, enjoytheride.world (an educational website for traders)