- Trading is not gambling.
- Trading is years of hard work, learning, and discipline. If you are looking for a place to make money easily, look elsewhere.
- Trading is purely a game of psychology and discipline. Numbers data etc are secondary
- Never trade with a profit target in mind. Trade because a trade is the right thing to do at that point in time
- Capital preservation is the only job you have as a trader. You need to preserve your capital for great trades with a high probability of high profit. If you lose money on poor trades, you will not have any money to take the great ones
- Remember, there is always the next trade. Don’t take stupid risks in the current one
- It is okay to miss an opportunity. It is not okay to lose money because of impatience
- Not having a position is a position. Some of the best trades in life are the ones you do not take.
- Most of the times the best strategy is to sit and watch on the sidelines
- There is a life outside of trading. It is easy to lose sight of that and get addicted to gambling.
