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The TraderLion Podcast
Trading Mistakes Costing You Money - Jon Brody
Mar 21, 2024
Veteran trader Jon Brody shares insights on capital preservation, risk management, and mastering the mental game in trading. He debunks the myth of high win rates, discusses calculating risk, and staying balanced emotionally. Learn valuable day trading strategies and tips for improving trading psychology.
01:14:06
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Quick takeaways
- Preservation of capital is crucial in trading for stability and strength during volatile periods.
- Success in trading doesn't always require a high win rate; focus on effective risk management instead.
Deep dives
Importance of Risk and Capital Preservation in Trading
Preservation of capital and maintaining the proper mental mindset are crucial in trading. Traders need to focus on managing risk and adapting strategies based on market conditions. Having reserves is likened to having an army, providing strength and stability during volatile trading periods. Without reserves, traders may panic, trade irrationally, and face difficulties in making profits.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode