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  • and if you're buying something, you're putting your stop loss order below the price that you bought it, if you're shorting an instrument, you put your stop loss order in above the price.

  • And what this means is this is once you put your trade in, you can walk away from that thing because you already know what it's going to do and you know when you're going to get out.

  • Um, and I always like to say, if you can walk out on the street and get hit by a bus, you still know your stop loss is going to get you out of a losing trade.

  • That is the discipline.

  • But I don't see that happening out there right now and I see the opposite and listen to me when I, when I say this because this is a quote and you'll probably see it coming up on screen here.

  • What I'm talking about is trading, this is not netflix, don't do it, do it for the entertainment and don't do it for the rush because that results in emotional decision making, stay disciplined, put in non negotiable stop loss orders to create long term success and financial wealth.

  • And this is an important point is why bring it up here.

  • And I want to go deep on that today because I see a market that's not disciplined and it's driving me crazy just watching it.

  • So I'm here to help.

  • I'm here to make you a better trader.

  • And let me say one more thing.

  • Diamond hands and our good friend Elon musk, uh, put a tweet out the other day.

  • And if you decode the emojis, I guess this means Tesla has diamond hands.

  • All right, Well, let me say a couple things about Elon musk and diamond hands.

  • First of all, Elon musk doesn't know anything about trading.

  • That's just the honest truth.

  • He knows a lot about innovation and risk taking and putting rockets in the air and making electric cars and God bless.

  • But he knows nothing about trading.

  • There's diamond hands and there's paper hands.

  • Let me quickly explain that diamond hands is known as people or traders who hold on to crypto, even when the prices are falling and paper hands are people who quickly liquidate their crypto and prices are falling.

  • Here's the news.

  • Both of these sets of people are idiots, and I'm going to explain why later on this show.

  • Yeah.

and if you're buying something, you're putting your stop loss order below the price that you bought it, if you're shorting an instrument, you put your stop loss order in above the price.

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Why Elon Musk Doesn't Know Anything About Trading I DeFi Real With Brian Rose

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    林宜悉 posted on 2021/06/17
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