 |
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:
 Jeff Brodsky - Director of Operational Excellence at Park N' Fly - I worked with Teo during the early stages of Net-Teams and he is a powerhouse with an extraordinary ability to bring together teams and ignite them behind his vision. He has a great understanding of the process of building companies through building a vision and a team and developing capital and has been a pioneer in social networking in the Atlanta Mtero market. - January 23, 2011, Jeff worked directly with Teo at Net-Teams, Inc. |
|
Featured [Currency Trading] Articles:
|
|
