One day a friendly new fellow, about 40 years old, walked into the pit. His father died and left him three large apartment buildings on the North side of Chicago. He sold them for the cash to open a trading account. I asked why anyone would leave a stable income for this kind of life. He said property was a headache and proudly stated he's been studying the markets. I knew right then with his over-confidence that he wouldn't last. He started with one-lots and by the next day's afternoon he was trading 5-lots. He was trying to make back losses not by being smarter but by trading larger.
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