Steve jobs says that
I’m the only person I know that’s lost a quarter of a billion dollars in one year.. It’s very character building”. Basically, people hate to lose. If they really work hard to not to lose, it becomes difficult for them to bear loses. After consistent trading for few years, one advice that I’d offer to novice readers is focus on the process. Do not focus on dollars & profits. Your performance will take care of itself, if you can follow the strategy.
1. There is no place for rejection in successful trading.
2. Do not blame the losses on bad luck or the manipulators. Take the responsibility.
3. Do not depend on trading for fulfillment & happiness,
4. Focus on opportunities; not on regrets.
5. Plan proper risk control & discipline is not negotiable for trading.
6. Trying to making the losing to profits is not always right.
7. Bad money management skills are major reason that novice traders are washed out.
8. Learn to find your reckless state of mind and have a follow up action.
I’m the only person I know that’s lost a quarter of a billion dollars in one year.. It’s very character building”. Basically, people hate to lose. If they really work hard to not to lose, it becomes difficult for them to bear loses. After consistent trading for few years, one advice that I’d offer to novice readers is focus on the process. Do not focus on dollars & profits. Your performance will take care of itself, if you can follow the strategy.
1. There is no place for rejection in successful trading.
2. Do not blame the losses on bad luck or the manipulators. Take the responsibility.
3. Do not depend on trading for fulfillment & happiness,
4. Focus on opportunities; not on regrets.
5. Plan proper risk control & discipline is not negotiable for trading.
6. Trying to making the losing to profits is not always right.
7. Bad money management skills are major reason that novice traders are washed out.
8. Learn to find your reckless state of mind and have a follow up action.