Michael Platt, who appears in Chapter 8 of Jack Schweger's book "Wizards of the

Michael Platt, who appears in Chapter 8 of Jack Schweger's book "Wizards of the hedge fund market" (with a white background and a green box cover), is a man who has made a fortune of 9 trillion dollars ($8 billion) through trading. He dreamed of becoming a trader at age 12 and actually started trading at age 13. Successful investors seem to tend to start early, just as Warren Buffett started investing at age 11 and Mark Minavini at age 14.

The ideal trader is "the kind of people who wake up before their kids wake up at 7 a.m. on a Sunday in London and play internet poker with people who are drunk and come home on a Saturday night in the United States." In fact, his company Bluecrest had a trader who used to make $5,000 to $10,000 in poker with drunk Americans every Saturday morning. It was not because the opponent lacked the ability, but because he was overconfident and his judgment was blurred due to alcohol. Platt always emphasizes playing in this favorable probability.

It is difficult to predict the direction of the Nasdaq because it is currently a horizontal guarantee and the presidential election is just around the corner. It is wise to hold on to cash and wait and see in this situation rather than rush in. It's as if you're waiting for a good card out of poker. Mark Minervini emphasized that stock investment, unlike poker, allows you to lose without participation fees. In other words, you can use other people's money to monitor the market situation and wait for an advantageous opportunity.

Individual investors can manage risks by automatically selling designated orders. You can also take advantage of the market situation by holding 100% cash. This is a powerful weapon that institutional investors can never do. When you have a gun in your hand, do you really need to throw it away and fight with your bare hands? Individual investors should actively use their own weapons.

Playing in favourable odds, holding cash when at a disadvantage and waiting for a chance. Key to investment success.