Tuesday, March 15, 2022

Don't get too excited when you make money, or too sad when you lose money because whether my next trade succeeds or not depends almost entirely on luck.

If it isn’t already obvious, the primary goal is to stay in the game & live to trade another day. If you can do that and have a decent strategy (with a positive expectancy) the profits should take care of themselves.

It's okay to be a loser. You likely do not intend to lose when you enter a trade, but you should assume that every trade will be a loser and set up your strategy accordingly. The key to successful trading is cutting losses short to preserve your trading stake.




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