Trading in the stock market is like being in a Monopoly game. If there are ten people playing, one person is likely to take everyone else’s money. 股票市场交易就像玩大富翁游戏。如果有十个人在玩，其中有一个人可能会拿走其他所有人的钱。

Trading functions much the same way, with 10% of traders becoming profitable, while the other 90% lose or break even. After studying successful traders from the books by Michael Covel and Jack Schwager for many years, and achieving my own financial freedom from trading the stock market, I have compiled a list of what separates them and their followers from the 90% that come up short. 交易的运作方式大致相同，10% 的交易者获利，而其他 90% 的交易者亏损或收支平衡。在研究了迈克尔·科维尔和杰克·施瓦格书中的成功交易者多年，并通过股票市场交易实现了自己的财务自由之后，我整理了一份清单，列出了他们及其追随者与 90% 失败者之间的区别。

Psychology 心理学

New Traders are greedy and have unrealistic expectations. Rich Traders are realistic about their returns. 新手交易者贪婪且抱有不切实际的期望。富有的交易者对自己的回报抱有现实的态度。 New Traders make the wrong decisions due to stress. Rich Traders can manage stress. 新手交易员会因压力而做出错误决定。富有的交易员可以管理压力。 New Traders are impatient and look for constant action. Rich Traders are patient. 新手交易者缺乏耐心，寻求持续的行动。富有的交易者则有耐心。 New Traders trade because they are influenced by emotion. Good Traders use a trading plan. 新手交易者会受情绪影响而进行交易。优秀的交易者会制定交易计划。 New Traders think they can stop learning. Rich Traders never stop learning about the market. 新手交易员认为他们可以停止学习。富有的交易员永远不会停止学习市场知识。 Risk 风险

New Traders act like gamblers. Rich Traders operate like a businessperson. 新手交易者就像赌徒，而富有的交易者则像商人一样运作。 New Traders bet the farm. Rich Traders carefully control trading size. 新手交易者孤注一掷。富有的交易者则谨慎控制交易规模。 For New Traders outsized profits are the #1 priority. Rich Traders know that managing risk is the #1 Priority. 对于新手交易者来说，超额利润是首要任务。富有的交易者知道管理风险是首要任务。 New Traders try to prove they are right. Rich Traders admit when they are wrong. 新手交易者试图证明自己是对的。富有的交易者会承认自己的错误。 New Traders give back profits by not having an exit strategy. Rich Traders lock in profits while they are there. 新手交易者没有退出策略，导致利润回吐。富有的交易者在交易期间锁定利润。 Methodology 方法论

New Traders give up. Rich Traders persevere until they are successful. 新手交易者会放弃。富有的交易者会坚持下去，直到成功。 New Traders hop from system to system when they lose. Rich Traders stick with a winning system even when it is losing. 新手交易员在亏损时会从一个系统跳到另一个系统。富有的交易员即使亏损也会坚持使用成功的系统。 New Traders place trades based on opinions. Rich Traders place trades based on probabilities. 新手交易者根据观点进行交易，而富有的交易者则根据概率进行交易。 New Traders try to predict. Rich Traders follow what the market is telling them. 新手交易员会尝试预测。富有的交易员会遵循市场告诉他们的信息。 New Traders trade against the trend. Rich Traders follow the market trends. 新手交易者逆势交易。富有的交易者顺应市场趋势。 New Traders follow their emotions to their disadvantage. Rich Traders follow systems that give them an advantage. 新手交易员会跟随自己的情绪而对自己不利。富有的交易员会遵循能给他们带来优势的系统。 New Traders do not know when to cut losses or lock in gains. Rich Traders have an exit plan. 新手交易员不知道何时止损或锁定收益。富有的交易员有退出计划。 New Traders cut profits short and let losses run. Rich Traders let profits run and cut losses short. 新手交易者止损，让亏损继续。富有的交易者让利润继续，让亏损继续。 These 18 principles and many more are covered in the new second edition of my trading classic: New Trader, Rich Trader. 我的交易经典著作《新交易员，富有交易员》第二版的新内容涵盖了这 18 条原则和更多其他原则。