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Tracking not just prices, but the emotional state during execution. New Trader,Rich Trader 2: Good Trades, Bad Trades
Good trades are executed without fear or greed; the trader accepts the outcome as a data point. AI responses may include mistakes
Moving away from "stock picking" toward executing a repeatable system. 💡 Key Takeaway Good trades are executed without fear or greed;
The book highlights common pitfalls that lead to the "New Trader’s" downfall. These are often rooted in ego and a lack of preparation.
The central thesis is that a "Good Trade" is defined by following a proven process, regardless of whether it results in a profit or a loss. Conversely, a "Bad Trade" is one where rules are broken, even if the trader happens to make money through luck. 🛡️ Risk Management (The Good Trade Foundation)