Thanks Tmac...I agree
I think one of critical factors that is not brought up enough is how to take the emotion out of trading. It always feels good when closing out a winner and not so good closing out a loser. If you have a method/system that works, works meaning that you account is growing month after month, year after year. Then losers should mean absolutely...nothing. As long as you have the proper rules, plan, money management, and knowing your exits before you enter, then your good to go. If you get too pissed off about a loser and you lost 20% of your account on a single trade then the problem is the trader not the method. You are doomed to fail.
When I close out a position loser or winner, the feeling is the same. Big winner, small winner, break even, or stopped out ...it all feels the same. A 20% account loser is a non money management trade and we thank you for giving 'us' your money...please continue to do that.
Today was a GREAT day for me. But, I feel the same about things before I entered anything...
Hope everyone bagged a bundle no matter what method you follow.
I think one of critical factors that is not brought up enough is how to take the emotion out of trading. It always feels good when closing out a winner and not so good closing out a loser. If you have a method/system that works, works meaning that you account is growing month after month, year after year. Then losers should mean absolutely...nothing. As long as you have the proper rules, plan, money management, and knowing your exits before you enter, then your good to go. If you get too pissed off about a loser and you lost 20% of your account on a single trade then the problem is the trader not the method. You are doomed to fail.
When I close out a position loser or winner, the feeling is the same. Big winner, small winner, break even, or stopped out ...it all feels the same. A 20% account loser is a non money management trade and we thank you for giving 'us' your money...please continue to do that.
Today was a GREAT day for me. But, I feel the same about things before I entered anything...
Hope everyone bagged a bundle no matter what method you follow.