| I have always characterized trading the trend as “keeping your costs down while |
| waiting for the big move.” We know that to trade profitably, especially for trend |
| traders, you need to be in the market for the big move. Many traders stay out of |
| the market when it’s quiet and try to predict when the big move will occur. These |
| people invariably miss the big move. |
| Instead of trying to predict when the big move will occur, your task becomes to |
| minimize your losses and drawdown while you are waiting for the big move to |
| occur. This is a different way of looking at trading that focuses on managing cash |
| flow and risk rather than finding magic indicators and making good predictions. |
| Trading thus moves from a hobby to a business. |
| The only way to ensure that you won’t miss the big move is to always be in the |
| market. |