Trading losses = tuition

One way the fund owner used to talk about losing trades was “tuition.”

We were all in the same boat, with very limited trading experience.  He was willing to put his money up to see that we learn how to trade.

In the first year and half, I lost close to $150,000 trading a small account for the firm.  That was more than I had ever made up to that point.  It made me feel pretty sick to my stomach.  However, I went to make over $1,000,000 the following year and slowly the tuition paid back its dividends.

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