bos dartboard and his merry men , page-23

hope.....

In speculation when the market goes against you, you hope that every day will be the last day — and you lose more than you should had you not listened to hope ........ And when the market goes your way you become fearful that the next day will take away your profit, and you get out — too soon ........ The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a far bigger loss, and hope that his profit may become a big profit.

Hope Is Your Enemy

Hope springs eternal in the human breast...

Hope is your biggest enemy in a bear market. When things go bad, it is human nature to hope that they will improve.