Livermore really captured what is every trader`s dream. But what is interesting to note is that many traders get frustrated if they miss an up move or if they sell and the market rallies without them. Many traders think that consistent winning traders really can catch all the fluctuations, or the vast majority of the price swings.
That is far from the truth. Consistent winning traders are only in the market when the odds of winning are far greater than random. The rest of the time, they rest. Where? Sitting on their money.
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