Trades: New Trader,rich Trader 2: Good Trades, Bad

Every good trade begins with a predefined exit point to protect capital.

Entering positions without a clear signal just to feel involved in the market. New Trader,Rich Trader 2: Good Trades, Bad Trades

New Trader, Rich Trader 2: Good Trades, Bad Trades, written by Steve Burns and Jaki Burns, serves as a practical guide for evolving from a novice market participant to a disciplined, professional trader. The book utilizes a dual-narrative structure to contrast the impulsive, emotional decisions of the "New Trader" with the calculated, rule-based approach of the "Rich Trader." 📈 Core Philosophy: The Process Over the Outcome Every good trade begins with a predefined exit

Owning mistakes immediately rather than blaming the market, "algorithms," or "manipulation." 🚩 Identifying "Bad Trades" The book utilizes a dual-narrative structure to contrast

Holding a losing position past the stop-loss point in the hope that it will return to break even. 🛠️ The Path to Professionalism

Rich Traders never risk more than 1%–2% of total capital on a single trade.