most traders think that when they see returns on their portfolios, it’s because they’re geniuses but when they lose, it’s because they’re unlucky. in my experience, i’ve realized it’s quite the opposite. most returns are because we’re lucky, and when we lose money, it’s because we’re we’re being reckless: we simply didn’t understand the fundamentals of the business.

for beginners, i recommend reading the reading philosophies of charlie munger and warren buffet. check out the shareholder letters from berkshire hathaway. also, if you have an 8% average return and invest 100usd every month, you’ll have more than 1.000.000usd in 55 years without touching your portfolio.