my most important market belief

based on my research and experience, i have developed a powerful and profitable belief system:
i believe the current trade that i am i will be a loser...a big loser at that.
this continues to be my most important market mantra. winners we can handle, it's the losses that kill you.
this may sound pretty negative to all you positive thinkers, but positive thinking can give way to thinking you will win-- a surefire formula for buying and selling too many contracts and holding on too long. after all, if your are positive things will work out, you are certain to hold for a bounce or turn that never comes.

i look at it this way: if you get all pumped up over positive beliefs about your market success, your conviction will lead you to mismanage losing trades. this is why belief systems are so important to a trader. if you belief system tells you that your current trade will be a winner--and it isn't--the need to confirm that belief in your mind will literally force you to let losses run, to stay with losers, which is something no successful trader ever does. an outrageously positive belief that the next trade or two will turn your account around or make a small fortune for you is most dangerous

now let's look at my belief that the current trade i am in will be a loser, that i have no pact with God for success on this trade.

adopt my belief that the current trade will most likely not work out and you sure as heck will protect yourself with stops. you will control disasters, taking the first lifeboat possible instead of going down with a sinking ship

adopt my belief that the current trade will most likely not work out, and you sure as heck will not load up on a trade, banking on it to bail out all your problems. a tiny loss can wipe you out when you have taken a very large position or number of shares or contracts