One of the most important parts of being a successful trader is being able to forget. Whether it be good or bad, it is important to not get emotionally attached to any winning or losing trade. This is something I'm struggling with right now. I recently had 2 really good wining trades that brought me back into the black for the month, but today I entered 2 more that lost. Well 1 lost and the other is looking like it will do the same. As soon as I looked at the charts I felt depressed. Only for about 5 minutes but depressed none the less. I said to my self "I just came off of 2 great trades that struggled their way into profit, making this month positive, and now I'm back to even. If I would have just sat back and not entered the trades then I would still have good monthly number." However, I soon realized that this isn't the right way to think about things. If I don't enter a trade then, I have no chance of making money and running a business is about making profit not about being worried about what I lose. So yes I would have preferred a wining trade but I must remember that every time I enter a trade there are 2 possible outcomes. That I make money or I lose money. If I am scared to lose money then I will never be able to make money.
@IambusinessTR
@IambusinessTR
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