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What I Learned Losing a Million Dollars$
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Jim Paul and Brendan Moynihan

Print publication date: 2013

Print ISBN-13: 9780231164689

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231164689.001.0001

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The Quest

The Quest

Chapter:
(p.59) 5 The Quest
Source:
What I Learned Losing a Million Dollars
Author(s):

Jim Paul

Brendan Moynihan

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231164689.003.0005

This chapter discusses the author's realization concerning his status as a trader, after his failure in the bean-oil market. The author realized that although he had made money in the markets, he did not know the how he had made it. He admitted that he could not duplicate profits strictly by trading. He concludes that the money he had made over the years of “trading” was not because he was a good trader; but because he was a good salesman, being at the right place at the right time, and knowing the right people. He realized that if he wanted to learn how to make money by trading, he needed to read the books and articles about successful market professionals.

Keywords:   bean-oil market, failure, trading, market professionals, money

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