Having Profitable Losses
You might wonder how I could put the words “profitable” and “losses” together and still make any sense. Well, let me explain:
Most of my losses have been very profitable. Not in terms of money made (well, “lost” is the more accurate word here), but in terms of what I learned. I have learned things that I could only have learned by losing or having someone show me the concept. If I learn by someone teaching me the concept, it doesn’t have has big of an impact on me as does a loss. I have learned to listen to someone when they are telling about the one that got away. Many times that is more valuable than hearing about the big catch.
Don’t just Analyze your losses, but learn from them too! They’re expensive lessons and you literally paid
for them. A huge mistake that I see traders make is ignoring their trading mistakes and pretending that they never happened. Be honest with yourself and learn from them.
There is way to take your losing trades and post them on your trading platform to see what the signals were at the time of the trade. This can be done quickly and then you can print it out for your trading journal.
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