CHAPTER 12There’s Money for Everyone
You cannot trade the market. Instead, you can only trade your beliefs about the market. However, you can do that successfully if you understand the fundamental concepts behind low-risk ideas, expectancy, and position sizing.
Let’s look at five different people, each with different beliefs about how to trade or invest, and see how they would approach some common scenarios. Each of these people is a successful trader-investor who consistently makes money from trading or investing in the markets. These people are similar because they all have 10 qualities (listed below) that help them maintain their success. But they are all different because I’ve selected people who represent different concepts described ...