“I would sometimes think that maybe I ought to stop trading because it was very painful to keep losing. In ‘Fiddler on the Roof,’ there is a scene where the lead looks up and talks to God. I would look up and say, ‘Am I really that stupid?’ And I seemed to hear a clear answer saying, ‘No, you are not stupid. You just have keep at it.’ So I did.”
– Michael Marcus
Michael Marcus, one of the original Market Wizards, is noted for turning $30,000 into $80 million. If even he started out taking enough lumps to generate serious self-doubt, how can traders learning in today’s environment expect less of a persistence breakthrough challenge?
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