The Real Battle

[bojangle 10]

I believe the real battle is being able to lose, rather than being able to win.

 

Anybody can win. Can you lose?

 

No method guarantees a 100% win rate. We must all lose at some point. Stop fighting that battle. Focus your effort on being able to lose better than anybody else.

 

Focus on probability and risk management.

[wmck6167 10]

Hi, Just another angle. Art of war is to win. It is not easy to win consistently but easy to lose if you do not have a plan and we only can control not to lose. It’s from an old book. Cheers.

[72black 10]

I believe the real battle is being able to lose, rather than being able to win.

 

Anybody can win. Can you lose?

 

No method guarantees a 100% win rate. We must all lose at some point. Stop fighting that battle. Focus your effort on being able to lose better than anybody else.

 

Focus on probability and risk management.

 

Yes the battle comes from within, accepting losses are part of the business of trading & not to be dwelled upon. In addition the secret is keep the stop in place & not readjust. I shrug my shoulders & look for the next opportunity.

[mslezak 10]

I like this... good point about losing. I work around some very successful traders and they all lose at least half the time. Those that stick around get out shortly after seeing the trade move against them.

 

The best traders usually just have 1 or 2 trades that go their way per year and they make their targets by letting the winners ride longer than the losers.

 

Of course, it is harder to do with your own money. 3 trades this week, 2 won, 1 lost. The loser was less than the gains... just hope to keep that up and not let it affect my mood. The psychology of trading without it affecting your ego is really difficult to manage... I see guys blow up all the time because they can't admit they were wrong about a position. Don't be one of those guys...