DislikedFor myself, Countertrend trades and not being able to accept loss for sure killed me this week. Mostly my ideas were right. I wanted to sell UJ and buy EU and leave GU alone this week. ended up buying UJ and selling EU and selling GU. Lack of patience to wait for market to align with HTF made me take countertrend trades. Anyways, how can one be good at taking losses? I cannot seem to accept loss. It hurts my ego to take losses. Also In my mind I am thinking I can always add a position and get out breakeven.Ignored
how to be good at taking losses? wow.
in trading you have to loose your ego in order to gain it.
we have to come to a point that we are glad to take small losses or break even.
because this will save us from blowing up accounts after accounts.
last week and this week i was following one trader's live TE. he was the top trader at that point in time.
he had a buy position in gold near the top. then it dropped.
fortunately he had only one position and held it until over 70% floating loss for 8 days.
then this week market turned up and that was that.
well he is having a nice equity curve with over 80% win rate.
you have to ask yourself whether he is a role model for you.
ITB - Seeing Orderliness amongst 'Randomness'
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