Rule No. 1 is never lose money. Rule No. 2 is: never forget Rule No. 1. These are the rules, reality may be different. Even Warren Buffett who stated these rules has lost money. But the idea is to aim at trading perfection. Unfortunately, there is a lot of misinformation about trading but the sources are known. Below are examples.
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CFTC RULE 4.41
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated performance results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Hypothetical trading results are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
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