Chapter 9: The Abundance of Losses
When you begin your trading career, myriad potential outcomes are possible—some within your control and some not. In the short run, you might lose money and drop out of the market. Or you might make money but eventually lose enough to quit, get discouraged, or lose your confidence. Finally, with technical training, you may be able to trade with know-how, but eventually you will be tested in a way that leads to a massive loss, destroying your confidence and sending you to the sidelines, just like some of the traders depicted in Market Wizards. The trick is to figure out how to survive these early challenges to create a consistent method for profiting in your trading program.
Those who have lasted through bad ...
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