Steve Burns

You don't need a stop loss to trade you need a stop loss to be able to keep trading long term without blowing up your account.

Keys to profitable trading: Trading system Trading plan Position sizing Risk/reward ratio Entry signals Exit signals Stop losses

A traders hidden dangers: Bid/ask spreads Taxes Ego Leverage Margin Anger Hope Laziness No exit strategy Predictions Stubbornness

If you're not excited about trading or investing every day, find something else. When you're not passionate, success is highly unlikely.

Only compare yourself to past versions of yourself & never others. If you recognize yourself from a year ago, it's a wasted year @EdLatimore

Financials and tech sectors are the next on track to break out to all time highs from the dot com bubble and 2008 meltdown. $XLK $XLF

Position sizing is the best tool for managing emotions and ego in the stock market.

In the stock market the euphoria of winning streaks & depression of losing streaks are where the mental game is so crucial.

The goal in life should be having enough money to be happy but not pursue more &more of it until it makes you unhappy in other areas of life

If you have big losses trading you won't make money.If you risk too much you'll be broke. Math doesn't care about your opinion or prediction

"Instead of spending 40 years in a job you want to quit as soon as possible. Focus on designing the "job" you want forever." - @behaviorgap

To be a profitable trader, you have to learn not only how markets work, but how your own ego & emotions work against you.

Being a profitable trader or investor is not about chart patterns or predictions. It's about emotional intelligence & a systematic process.

Remove 3 sources of noise from trading: Going to lower timeframes after an entry Constantly watching price Other opinions - @Tradeciety

Reasons new traders quit: Lack perseverance Lose all their money Do no homework No discipline No plan Try to predict instead of react