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The Inner Voice of Trading by Michael Martin

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Chapter 3: My Tuition

Ipaid a great deal of tuition to develop my inner voice, mostly in the form of trading losses. You learn the most from your losses. Winning trades do nothing for you in this regard except boost your ego.

If you are ever asked, “How would describe your level of intelligence?” you might answer, “Above average.” This is probably emotionally gratifying to say, despite not having a single, measurable heuristic as proof. I’d probably say the same thing, although nowadays I have what’s called “Social Proof”—recommendations on LinkedIn, letters from deans, and positive reviews from students. I’m smart enough to know that I can still vaporize cash very quickly, and I own the fact that I am not immune from becoming a bonehead. As ...

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