Ed Sekota, the former king of trading He turned $5,000 into $15 million With an average annual return of nearly 60%, he is a true financial geek Here are his 8 lessons learned: 🧵

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1. The three iron rules of successful trading: "Excellent trading consists of three elements: first, stop-loss; second, stop-loss; third, still stop-loss. As long as you can do these three things, you may have a chance to succeed."

2. Drawdowns are unavoidable. The core purpose of a trading system is to accommodate and deal with drawdowns. It is nearly impossible to completely eliminate drawdowns. You need to establish a comprehensive risk management mechanism within your strategy.