December 31st, 2008
Become Good at Losing (16 of 26)
Written by
Kirk |
one
Topics: Disciplined Trader Series, Inside The Trader's Mind, Money Management, Planning A Trading Career, The Disciplined Forex Trader, Trading Strategies, Types of Traders
- Two Big Trading tools (1 of 26)
- You get paid to wait (2 of 26)
- Chasing the Market (3 of 26)
- Always Scale Back When You are Trading Poorly (4 of 26)
- Never Turn a Winner into a Loser (5 of 26)
- Keep things in perspective (6 of 26)
- Develop a trading plan and Stick with it (7 of 26)
- Develop Your Own Style (8 of 26)
- Be Able to Trade Another Day (9 of 26)
- Develop the Skills to Trade Bigger (10 of 26)
- Stop The Pain Close the Losing Trades (11 of 26)
- The First Loss (12 of 26)
- Don’t Turn Your Trades into Religious Trades (13 of 26)
- Don’t Worry About the News (14 of 26)
- Speculators Always Lose (15 of 26)
- Become Good at Losing (16 of 26)
- Use Time to Monitor the Loss of a Trade (17 of 26)
- Only take little losses (18 of 26)
- The Money Pile (19 of 26)
- How to Hit a Homerun (20 of 26)
- Confidence & Control (21 of 26)
- Know When to Hold ‘em Know When to Fold ‘em (22 of 26)
- Be a Trading Machine (23 of 26)
- Be a Trade Taker Not a Trade Watcher (24 of 26)
- The Market Thinks All Traders Are The Same (25 of 26)
- The Market Does Not Care If We Win Or Lose (26 of 26)
We get a lot of questions and comments about what this means. You should know by now that you will lose sometimes when trading. That does not mean you will lose all of your account unless you use poor money management techniques or none at all. It means don’t get all emotional about a loss they are going to happen and the sooner you can get over it and move on the faster you will become a good trader. Accept the fact that you are going to have losing trades throughout the day or week. Get out of your losers quickly. Love to get out of your losers quickly. It will save you a lot of trading capital and will make you a much better trader.
Tags: Disciplined Trader Series, forex loss, good at losing, losing, loss, Money Management, The Disciplined Forex Trader, trade loss
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