 |
Real Forex Traders Learn to Like Losses |
|
|
Submitted by Janeane Carnagie
| RSS Feed
| Add Comment
| Bookmark Me!
As a forex trader you have to learn how to take losses. Period. Don't be a crybaby. Learn how to take losses.
Learning how to take losses is one of the most important lessons you must learn if you want to survive as a trader. Nobody is 100% right all the time.
Losses are inevitable. Even Michael Jordan and Tiger Woods lose sometimes and they're considered the best in their field.
There will be trading streaks where you'll have a number of successful consecutive trades, but that will eventually come to an end you will take a loss.
As that point it’s very important not to lose your head, you must remain in control of yourself. Don't have a cow man.
Take a break. Calm down and relax. Take a chill pill dude.
Until you've regained a clear mind and an ability to think logically again, stay out of the market.
Don’t whine about your loss and never carry a prejudice against a loss.
The key to manage losses is to cut them quickly before a small loss becomes a large one.
I repeat. The key to manage losses is to cut them quickly before a small loss becomes a large one.
Never ever think that you will never lose. That's just ludicrous. Losses are just like profits, it’s all part of the trader’s universe.
Losses are unavoidable. Get over the loss and move on to the next trade.
|
|
|
|
|
LinkedIn Recommendation:
 Sean Nelson - We improve your conversions by at least 20% or you pay nothing for our work. - Teo is on the cutting edge of the social media scene. I've had the opportunity to share the stage with him at a forum on Social Media and to also follow his progress with the Net Teams site. Not many people get the whole picture when it comes to social media. He does and he's helping rewrite how social media interacts with chambers of commerce. - May 15, 2008, Sean was with another company when working with Teo at Net-Teams, Inc. |
|
Featured [Currency Trading] Articles:
|
|
