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"Live to trade another day." – Capital preservation is job number one.
"Never risk more than you can afford to lose." – The psychological pressure of trading with rent money causes failure.
"Losers average losers." – (Paul Tudor Jones) Never add to a losing position hoping for a turnaround.
"Your first loss is your best loss." – Taking a small hit early is better than holding a heavy bag later.
"Hope is not a strategy." – If you find yourself "hoping" the price turns, you’ve already lost control.
"If you can't sleep at night, reduce your position size." – Your emotional state is a risk indicator.
"Nobody ever went broke taking a profit." – It’s okay to exit early, even if you miss further upside.
"Don't marry your stocks." – Be objective; assets do not know you own them and do not care about you.
"Focus on the downside, and the upside will take care of itself." – Defensive trading leads to long-term success.
"There are old traders and there are bold traders, but there are no old, bold traders." |
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