What I learned Losing A Million Dollars | Summary
Better Business Summaries
- When
- he
- initially
- began
- trading,
- Jim
- Paul
- believed
- he
- was
- some
- type
- of
- Superman.
- He
- believed
- he
- was
- invincible
- -
- that
- whatever
- he
- touched
- would
- become
- gold.
- When
- he
- lost
- a
- million
- dollars,
- he
- recognized
- he
- was
- human
- like
- the
- rest
- of
- us,
- that
- he
- had
- actually
- just
- got
- fortunate,
- and
- that
- continuously
- flexing
- the
- guidelines
- just
- gets
- you
- so
- far.
- Any
- financier
- worth
- his
- salt
- requires
- far
- more
- than
- luck
- and
- self-confidence:
- he
- has
- to
- discover
- ways
- to
- lose.
What
- I
- Discovered
- Losing
- A
- Million
- Dollars
- does
- not
- concentrate
- on
- success
- through
- winning.
- Part
- autobiography
- and
- part
- trading
- writing,
- it
- analyses
- failure
- and
- the
- best
- ways
- to
- manage
- losses.
- Jim
- Paul
- rose
- to
- real
- leadership,
- reaching
- his
- zenith
- in
- his
- mid-thirties,
- prior
- to
- collapsing
- and
- falling
- right
- down
- to
- the
- bottom.
- He
- discovered
- a
- lot
- about
- himself
- through
- his
- failures
- in
- the
- trading
- pit.
- He
- analyzed
- and
- checked
- out
- the
- psychology
- behind
- trading,
- and
- how
- it
- is
- our
- behavioral
- attributes
- instead
- of
- a
- changing
- market
- that
- causes
- flawed
- trading.
- It
- is
- frequently
- who
- we
- are,
- and
- not
- exactly
- what
- we
- are
- doing,
- that
- results
- in
- falling
- down.
- He
- advises
- us
- that
- we
- have
- to
- change
- our
- basic habits.
