The book highlights common pitfalls that lead to the "New Trader’s" downfall. These are often rooted in ego and a lack of preparation.
Every good trade begins with a predefined exit point to protect capital.
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Fighting the primary market direction because of a personal belief that a stock is "too high" or "too low."
Attempting to "win back" money immediately after a loss by increasing position size.
Good trades are executed without fear or greed; the trader accepts the outcome as a data point.
Accepting that any single trade is random, but a series of 100 trades will favor the edge.