2. The Pareto Principle
The Pareto Principle states that over many outcomes, roughly 80% of the results come from 20% of the causes.
In trading, this means that 80% of your returns will come from 20% of the stocks you trade.
Why is this important?
Raila Odinga was a true champion of democracy. A child of independence, he endured decades of struggle and sacrifice for the broader cause of freedom and self-governance in Kenya. Time and again, I personally saw him put the interests of his country ahead of his own ambitions. Like few other leaders anywhere, he was willing to choose the path of peaceful reconciliation without compromising his core values. Through his life, Raila Odinga set an example not just for Kenyans, but across Africa and around the world. I know he will be missed. Michelle and I send our deepest condolences to his family and to the people of Kenya.
Most traders struggle because they don’t recognize the trading stage they're in, or they don't know how to progress to the next level.
Listen to @RichardMoglen and @ameetrai walk through each of the 4 stages, and how you can level up from where you currently are: