< trade for a living > Reading notes

1. To ensure a successful operation, you should practice defensive money management.
2. In the long run, no master can make you rich, you must work on your own
3. Keep writing diary-write down the reasons for each sale, and summarize the repeated successes and repeated failures of the operating mode
4. Most traders cannot tolerate the pain of a major loss, and few survivors realize that the crux of the problem lies not in their trading methods, but in their minds. They can change their minds and become successful traders.
5. Share price is the intersection between supply and demand
6. The market is a large group of people. Every member of the group thinks that he can be smarter than others to earn money in other people's hands.
7. Remember, your goal is to trade successfully, not to trade frequently
8. Successful trading is founded on three pillars. One is the need to analyze the balance of the multi-empty power, the second is the need to implement good capital management; third, we need to strictly follow their own trading plan to trade, avoid the market high
9. Turnover reflects the activities of speculators and investors.
10. In the face of profitability, the emotional trader chooses the definite benefit, abandons the uncertain profit opportunity, and in the face of the loss, they always want to avoid the definite loss and choose the uncertain loss. Make quick profits and postpone losses as much as possible.
11. The primary goal of money management is to ensure survival. You have to avoid the risk of being gambled, followed by a steady return, and ultimately a high return, but survival is a priority.
12. Trading should pursue a stable profit and good trading record, so as to minimize the loss

Here's the book.

< trade for a living > Reading notes