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20 One Liners From :The Little Book of Market Wizards by Jack Schwager

  
  Education
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  1. They have the resilience to come back from early losses and account blow ups.The_Little_Book_of_Market_Wizards_large
  2. They focus on what really matters in trading success.
  3. They have developed a trading method that fits their own personality.
  4. They trade with an edge.
  5. The harder they work at trading the luckier they get.
  6. They do the homework to develop a methodology through researching ideas.
  7. The principles they use in their trading models are simple.
  8. They have mental and emotional control is key while winning or losing.
  9. They manage the risk to avoid failure and pain.
  10. They have the discipline to follow their trading plan. (more…)

Two Corollaries

  
  Education
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Corollary 1

If most of the money that is lost in the markets is lost by traders who thought they knew which way the market was supposed to go, then most of the opportunity that is missed in the markets is missed by those who couldn’t possibly believe the market would go that expected distance — but in the opposite direction.

Corollary 2

If most of the money that is lost in the markets is lost by traders who thought they knew which way the market was supposed to go, then most of the money to be made in the markets is made at the places where most traders are proven wrong and stopped out.

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