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The Way to Trade: Discover Your Successful Trading Personality by John Piper

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Chapter 2: THE EVOLUTION OF A TRADER AND THE 55 STEPS

This chapter describes some other ways of looking at the path traders take to success.

For some years I have set out a simple process which all traders seem to encounter on the road to success. This is detailed below and thereafter I expand this in a way which I feel will be useful for those who want to tread this path.

STARTS OFF “Greed orientated.

Loses because:

1. Market problems

(a) Not a zero sum game, a “very negative” sum game (see Chapter 25)

(b) Market psychology – doing the wrong thing at the wrong time

(c) The majority is always wrong

(d) Market exists on chaos and confusion.

2. Own problems

(a) Overtrading

(b) No knowledge

(c) No discipline

(d) No protection against ...

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