• If you want to be a consistent trader, you must

be
consistent in your actions.
• You must have an edge in the markets because
without one, even the best risk management or
trading psychology won’t save your account.
• The law of large numbers means your trading
results
will be random in the short run. In the long run,
they’ll align towards its expectancy.
• Always take care of your downside. The best
trading
strategy is useless if you don’t contain your
losses.
• You need money to make money in this
business.
• The big money is made from compounding
your
returns, and the biggest money is made from
managing other people’s money (OPM).
• There’s no such thing as the best trading
strategy
because “best” is subjective.
• No trading strategy works all the time because
the
markets are always changing.
• Trading frequency matters. Don’t expect to
make
money every day if you only take two trades per
day.
• Trading is a get-rich-slow scheme. If you add
funds
to your account regularly and compound them
over
time, you’ll eventually get rich—but it takes
time.