180: Larry Hite – Reflection on Markets & Life—With a Man Who’s Had Vast Financial Success
Chat With Traders
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How Do You Determine the Odds on a Trade?
I know you're very big on risk management. That's one of the things which you have a strong reputation for. Back in those days, as this was one of your earlier trades, do you feel as though you risked far too much on that trade? Obviously, it happened to work out, but if it hadn't worked out, you might have been back in that hallway on your knees praying that you weren't going into debit again. I don't really ever feel that I made the trades. I feel the machine makes the machine. The odds came out. Every trade has a configuration, a mathematical configuration. Well, a new lower, a new high, they happen all the time
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