“The elements of good trading are cutting losses, cutting losses, and cutting losses.”
Source: Jenks, Philip, (Editor) 500 of the Most Witty, Acerbic and Erudite Things Ever Said About Money, Harriman House (December 2002), ISBN 1897597223 Read it here http://books.google.com/books?vid=ISBN1897597223&id=lERXBvyeeQ0C&pg=PA27&lpg=PA27&dq=seykota&sig=K97S8hGKxQmB6w7x79enj9tEGw4