Sperandeo’s foundational belief is that most traders lose money because they trade their opinions, hopes, or fears. They forecast a rally because they want one, or they hold a losing position because they believe it will turn around.
He notes that most traders fail because they cannot accept being wrong. When a trade goes against them, they hold on, hoping the market will turn around. This hope turns a small loss into a catastrophic one. Trader Vic Methods Of A Wall Street Master By Victor
: Your first and most important rule; without capital, you cannot play the game. Consistent Profitability Sperandeo’s foundational belief is that most traders lose