The insights of living by trading, read it over and over again, and gain a lot!!! 1. Money is not made by frequent trading, but by patient "sitting". 2. In my financial career, I have witnessed many examples of people failing because they do not respect risk. If you do not take risk seriously, it will destroy you. 3. Letting losses expand is the most serious mistake that most investors make. 4. Michael Marcus (another top trader) taught me a very important thing: you have to be willing to make mistakes from time to time: making mistakes is not a problem. Michael told me, try to make the best judgment, if you are wrong, then make the best judgment again, if you are wrong again, then the third time you make the best judgment, you can double your money. 5. Trading taught me a painful lesson. It was then that I said to myself: "You fool! Why take such a big risk in one trade? Why make life feel pain, rather than pursue happiness? 6. Good trading has three factors: (1) stop loss; (2) stop loss; (3) stop loss. If you can strictly follow these three rules, maybe you still have a chance to succeed in trading. 7. To be honest, I never look at the market, I only look at risk, return and capital.
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