Dealing With Loss
There are countless gurus who talk about this but here, we going to keep things real and applicable. Each failure will make you a better trader unless you don’t learn from it.
Trading losses are inevitable. But that is rationally and logically obvious. Or is it? For some reason, new or struggling traders seem surprised when they occur.
Why is this you may be asking? In my opinion, there is too much misinformation and credulous marketing around trading that most who are looking are not going to find a fair opportunity to be successful.
Is placing a trade, accepting the risk? Placing a trade isn’t accepting risk, IT IS TAKING RISK. If a trader truly accepted the risk of loss before the trade then they would have a totally different mindset towards trading losses.
The three main reasons traders struggle to be consistent are; not enough capital, inappropriate stop-loss placement or moving or canceling their stop-loss, and inappropriate trade size. Of course, all the above issues stem from FEAR. To deal with loss a trader must learn to build their emotional IQ and have a full understanding of their emotional state and how to prevent the arousal of the emotion into a biological response.
You see in trading you are purposely and constantly putting yourself in the position to experience PAIN AND LOSS. Both of these are something that the human being has an inherent trait to AVOID PAIN AND LOSS at all costs.
How can these be overcome? Our Coaching and Mentor Program was designed to address these very issues and help the trader become consistent through a systematic plan.
