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Cautionary Notes/TakeAways Techniques/Excellent Advisor-An Pham Investment

Amateur or Professional Traders

1) Amateurs have a goal. Professionals have a process.

2) Amateurs think they are good at everything. Professionals understand their circles of competence.

3) Amateurs think good outcomes are the result of their brilliance. Professionals understand when good outcomes are the result of luck.

4) Amateurs focus on the short term. Professionals focus on the long term.

5) Amateurs think in absolutes. Professionals think in probabilities.



 
 
 

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