"Lose your opinion, not your money” (or, “Give up an opinion before you give up your money") means that one shouldn’t hold fast to a money-losing point of view. The saying has been cited in print since at least 1970, when it was included in the book Conrad Leslie’s Guide for Successful Speculation.
Leslie’s 12 Laws of Trading
Conrad Leslie, an internationally known commodity analyst and crop forecaster, developed 12 laws for successful speculating during his 35 years of observing daily market developments.
2. Never buck an established market trend. The market may know more than you know. Give up an opinion before you give up your money. Don’t sell an uptrend—don’t buy a downtrend.
Symposium on Commodity Markets and the Public Interest
Chicago Board of Trade
1954 (Google Books date may be incorrect—ed.)
Remember, trade to be right and the money will take care of itself. That doesn’t mean you should not limit your loss, because you will always want to lose your opinion rather than your money.
Google News Archive
21 November 1970, The Financial Post, “Books,” pg. 35, col. 3:
Conrad Leslie’s Guide for Successful Speculation, by Conrad Leslie; Dartnell, Chicago; 208 pp.; US$9.95. Apart from some of his comments on gold, Leslie lays down many sound—and highly readable—rules for investors. Samples: When you don’t know what to do, it usually proves profitable to do nothing. It is preferable to lose your opinion rather than your money.
Japanese Candlestick Charting Techniques:
A contemporary guide to the ancient investment techniques of the Far East
By Steve Nison
New York, NY: New York Institute of Finance
Lose your opinion, not your money. Be proud of the ability to catch mistakes early. Getting stopped out concedes a mistake. People hate to admit mistakes since pride and prestige get involved. Good traders will not hold views too firmly.
February 24th, 2004 05:20 AM
“Lose your opinion - not your money.”
Technical Analysis of Stocks and Commodities
It’s a cliche, but it’s better to lose your opinion than it is your money. When you’re in a trade, obviously you have an opinion about it, and most novices have a hard time letting go of that.
Mastering Trade Selection and Management:
Advanced strategies for long-term profitability
By Jay Norris and Al Gaskill
New York, NY: McGraw-Hill
It sounds so simple to say, “Lose your opinion, not your money,” but it is not easy to do.
The Market Oracle
18 Mar 11, 03:18
He’s a classic example of why some of the best traders like Jesse Livermore said that its absurd to be bullish or bearish… you lose your opinion not your money.
Pinoy Money Talk Forum
STOCK MARKET GUIDES FOR NEWBIES LIKE ME
on: Oct 19, 2011, 10:23 AM »
Time Tested Classic Trading Rules for the Modern Trader to Follow
By Linda Bradford Raschke
This is a list of classic trading rules that was given to me while on the trading floor . A senior trader collected these rules from classic trading literature throughout the twentieth century. They obviously withstand the age-old test of time.
49. Lose your opinion – not your money.
New York City • Banking/Finance/Insurance • (0) Comments • Wednesday, January 25, 2012 • Permalink