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All moments › Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting

Emotional discipline prevents closing trades prematurely; experienced traders manage portfolio exposure over chart patterns.

From Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting · jumps to 1:09:11 · speech

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Yeah, Mike Tyson, right? And I think so like I've said to people in the past, when they're beginning, I said you want to trade your trade idea because otherwise the moment you're in profit or the moment you're in drawdown, you're going to close the trade because you're an emotional pussy, right? You don't have the callus to know what the hell you're doing. I think once you actually have some experience in the market, you know, absolutely, like I can look at a trade and be like, you know, I'm up enough. I'm just going to close it. I don't care if it goes all the way to my target. And yeah, I'm recouping a loss from earlier in the day or a poor trade I took earlier in the week. And I think those are the the the the problem with the trading adages is they're very nice to say and they're easily defensible because it's like an unassailable idea. But in practice, It's very rarely the actual reality when you've been doing it for a long time, where yeah, I agree. I think a lot of the great people, they're looking at the exposure of their book and they're not looking at the lines on the chart to determine whether or not the trade's working or not. It's whether or not they're making any fucking money or if they're losing a bunch of fucking money, maybe this is not such a good trade idea anymore. Exactly. And it's like, you know, that people say if the sun's shining, you've got to make hay, right? So if your system's giving a signal, take the fucking trade. But it's just insane. Like I'll have, you know, if I'm having a good day,
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