
002: Brent Penfold discusses trading principles, money management, risk of ruin and how to overcome greed, hope and fear in trading
Better System Trader
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The Only Real Secret I've Learned in Life
Don't try and tie up your self esteem in the fact that you're a trader. It's not important to other people about what you do. Don't come to the markets thinking that you have to be right all the time. Find yourself a trading partner who is essentially going to keep me honest. And i hope they keep reminding me about my financial boundary, so i don't keep throwing in good money after bad money. I'm always managing the down tot risk. Anyone can make a profit - it's how you handle the losses that is the challenge.
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