Ep. 961: Alexander Elder Rewind with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Stages of Trader Development
I feel sorry for some poor idiot who is an advertisement in a newspaper that says you can triple your money in a year working 15 minutes a day with no mass. So somebody who is not looking for magic, to learn to trade and to become a trader has to put time and energy into it. I often say to people that learning to be a trader will probably take as long and cost as much as getting a college degree. It's a process. At the first stage of trade development, when a person is completely green, losing 10% a year or less is a wonderful result. They're the game.
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