Chasing the win is the fastest way to lose. The market is very good at punishing people who need to be right now, quickly, on this trade.
Outlasting is different. It is the decision to still be in the game when the impatient have already been carried out. That is where the compounding lives.
Time in beats timing
The person who survives twenty years of markets beats the person who has one spectacular year and blows up. Every time. It is not close.
This is why capital preservation comes first. You cannot outlast anything if you get wiped out. Defense buys you the time that offense needs.
Don't chase the win. Outlast it.
Boring compounds
The strategy is not exciting. Stay in, protect the downside, let the winners run, do not do anything stupid at the bottom. Repeat for years.
Excitement is expensive. Patience is free and it pays the best.
