Chat With Traders

169: Jack Ma – Strategies Die, Skills Survive

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Dec 20, 2018
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ANECDOTE

Blowing Up an Account

  • Jack Ma blew up a CFD account trading the Australian dollar.
  • He bet against parity, added to the losing trade, and ultimately lost everything.
ADVICE

Focus on Skill Development

  • Treat trading like a skill, not just a strategy.
  • Focus on developing core skills like market reading, flow reading, and psychology.
INSIGHT

The Blackjack Dealer Analogy

  • Think of trading as a probability-based activity, like being a blackjack dealer.
  • Focus on making good trades consistently; the outcome of individual trades is irrelevant in the long run.
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