My experience with novice traders is that they trade three to five tim…

Bruce Kovner
11 citations
My experience with novice traders is that they trade three to five times too big. They are taking 5 to 10 percent risks on a trade when they should be taking 1 to 2 percent risks. The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade. ✨ Market Wizards: Interviews with Top Traders. Book by Jack D. Schwager, 1989.
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