B The Trader These Two Losers Made Millions by Understanding This RULE
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Dec 10, 2025 Join two seasoned traders as they share hard-earned wisdom from their trading journeys. They delve into the art of accepting losses and emphasizing risk management over chasing potential gains. Nostalgic tales of old-school trading reveal the contrast between past methods and today's fast-paced markets. Listen as they recount personal experiences of significant losses and the importance of mastering one strategy before scaling up. They stress the value of a process-oriented mindset and the need for longevity in trading.
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Plan Losses First
- Plan every trade by defining what you will lose before you enter the position.
- Prioritize risk management over focusing on potential gains.
First Trade Blowup
- Tyson lost about $6,000 on his third-ever trade after accidentally buying an OTC pump.
- That first big loss forced him to go back to work and taught him the danger of not knowing markets.
Swing Loss That Stung
- Russel swung a sizable Bristol-Myers long and was emotionally shaken when trial news crashed the stock.
- He regretted missing day-trading opportunities while trying to manage the swing loss.