“To anticipate the market is to gamble. To be patient and act only when the market gives the signal is to speculate.”
Before starting this lesson, I want to make something clear.
Contrary to what you may think, trading is not gambling.
-Buys something because he heard some bros on Twitter talking about it
-Pray every day that his position will go to the moon
-Doesn’t have any exit strategy
-FOMOs and shoot on everything that moves
-Blame the market and restart again
-Want to 50x his account as rapidly as possible
-Exploit a specific edge in the market
-Has a really selective approach
-Has a pre-defined exit strategy
-Develop patience: he knows when to trade and more importantly, when not to trade