Statistics, Probability, and the Stock Trader

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Statistics, Probability, and the Stock Trader

For every transaction, there is a probability for gain and a probability for loss. Even though a stock’s chart pattern shows the existence of a setup pattern and setups have a relatively high probability of success, there remains the possibility of loss. Plan as if your new position will be a disappointment. Planning for a bad outcome will keep the amount of pain you suffer to a minimum.

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