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On The Big Question: How Much Can I Make?
One of the major differences between the people who have long term success in the markets and those who do not is how they look at risk. People who eventually will blow up (or never make anything at all) first get caught up in “How much can I make”. That’s not a strategy for making money long term – because eventually you will give everything back and not even see it coming.
A winning strategy is to start by asking yourself, what is my probable downside and what is my worst case downside? Can I live with it?
Then look at the upside and ask yourself is the worst case loss worth risking to get your potential profit. Hardly anyone thinks that way though – and it shows.