broken out - short covering, page-30

Luck is learning your lessons early, with money you can afford to lose.

So later when you're throwing the big bucks in you know what you're doing.

I made some hilarious mistakes when I first started but thankfully they were all small trades (1k, 2k etc.), the lessons however are the same whether I was trading 1k or 10k. They taught me the value of protecting your capital (stops), and not to fight the market.

I know people who thought they were invincible having gotten onboard the train in mid 2000s, sitting pretty on big gains, not doing their research properly or paying attention to techs (stock specific AND macros) or fundamentals. GFC and bam got cleaned out big time on margin.