You can use the terms trader and investor interchangeably on this one...
What I like best about the Larry Benedict chapter in Jack Schwager's Hedge Fund Market Wizards book is that it opens with a story about repeated failure. Before becoming the uber-successful founder of Banyan Capital Management, Benedict failed and failed repeatedly but kept at it, using the proper discipline to assure that failed trades wouldn't knock him out of the game and never looking for a shortcut to make up for them.
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