Twelve Trading Insights, Worth Revisiting for Valuable Wisdom!

1. Wealth isn't generated through frequent trading but rather patiently holding positions.

2. Disregarding risk can lead to financial ruin; respect it, or it will destroy you.

3. Allowing losses to grow is one of the gravest mistakes many investors make.

4. Michael Marcus, a top trader, taught me a valuable lesson: Be willing to make mistakes occasionally. There's no harm in being wrong as long as you aim to make the best judgment, learn from your errors, and eventually double your capital.

5. Trading taught me painful lessons, making me question why I'd risk so much in a single trade. It made me reflect on life's pursuit of happiness over enduring pain.

6. Three critical factors in good trading: (1) Stop loss, (2) Stop loss, (3) Stop loss. Adhering to these rules might give you a chance at trading success.

7. If I incur losses in the market, I exit immediately, regardless of the trading environment. Remaining in a losing position while the market deviates from your expectations can lead to elimination.

8. Truthfully, I don't watch the market; I focus on risk, return, and capital.

9. When a trade succeeds, I think, "I made the right decision." But if I'm wrong, there's nothing left. I accumulate capital because there's always another trade.

10. I always limit risk, so there's no need to worry about anything else.

11. Key to successful trading is controlling emotions. If intelligence were the primary factor, there would be many profitable traders. The most common reason traders lose in financial markets is their inability to cut losses in a timely manner.

12. I believe that, to date, psychological resilience in investing is the most critical factor, followed by risk management, and finally, determining entry and exit points.