Elias Chen commented on a stock · Sep 9, 2024 18:14

As a day trader, how much did you lose before you started making a profit?

A lot.

Any amateur can make money through trading, but only professionals can keep the money.

Making money is never anything remarkable.

The real difference between amateurs and professionals is that professionals know how to keep the money they earn.

Amateur traders are very greedy. They do not respect stop-loss orders. You can guess how lucky you can be to escape in a booming market environment.

You can trade like a completely decadent person and make a lot of money.

But once the market changes, and you continue to forcefully adopt the same aggressive trading methods in a market that does not support your specific strategy, novices will give back all the profits and more.

Professionals attach great importance to risk management. They understand that good defense is the only way to stay in this industry for a long time. If the market becomes hot, they may become more aggressive, but they also know when the market will cool down and how to slow down when necessary to protect these profits.

Professionals always keep a clear head.

Amateurs always have unrealistic fantasies.

They are shrouded in greed and fear.