The Trader's Journey : EP.19 - Bruce Kovner

From a taxi driver to a billionaire Market Wizard, Bruce Kovner’s journey began with a near-disaster. In this episode, we dissect his infamous 1977 "Soybean Trade." Kovner watched a massive profit evaporate in minutes because he lacked an exit plan. This painful lesson taught him the Golden Rule of trading: Risk Management. He realized that "emotional attachment" to a trade is the enemy. To survive, you must define your stop-loss before you enter, not after. Discover how Kovner transformed from a rookie gambler into a master of defensive trading. Stop letting greed dictate your exits. Learn to protect your downside first, respect the market's volatility, and trade with professional discipline on IUX.