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.

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📌 Risk Warning:

Trading financial instruments carries a high level of risk and may not be suitable for all investors. The value of investments can go down as well as up. You should never invest money you cannot afford to lose.

📌 Disclaimer:

All content provided in this podcast is for educational and informational purposes only. It does not constitute financial, investment, or trading advice. Always do your own research and consult with a licensed financial advisor before making any trading decisions.