Chapter 12. Trading Is a Business—Have a Plan
Trading it is not a passive investment. Trading is a business, and any activity engaged with the purpose of profits should be treated as such. Confirmation of this comparison can be seen in the odds of success. It has been said that approximately 80% of all traders fail to trade profitably, and some studies have suggested that the odds are even worse. For example, I have seen estimates that as many as 90% of all traders fail within the first six months. We can argue over the percentages, but it is clear that most traders are destined for an undesired outcome. Nevertheless, those who achieve success can be rewarded handsomely.
“The average man desires to be told specifically which particular stock ...
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