It might seem like common sense, but clearly it's not being practiced. We all know that markets are volatile. They go up and down. You can get hurt, and getting hurt is part of the game. Even though you can get hurt in the markets or life, that doesn't stop people from pretending. Covel gives some examples to illustrate, and makes an analogy to the Federal Reserve. How have we gotten to the point where some failure, some losing, has been deemed so inappropriate that we're going to try and protect everyone and everything? This has become the way of the markets; the way of life. However, the markets and life are rough. But if the vast majority of people are just trusting their money to a big monolith of a machine, that gives you a leg up. If you have rules that are opposite to what the vast majority of people are doing, that should give you an edge. Free trend following DVD: www.trendfollowing.com/win.