This was a tough week. Despite the bumps and a few small losses, we know one key thing about being traders: you must learn how to be a good loser!
No one likes losses, but this is an area that we don’t spend enough time talking about. What are the elements of becoming a good loser? What does that even mean? There are strategies for minimizing losses, and although not as great a feeling as winning, we need to understand and use some rules to lessen the pain… Knowing how to keep the losses small and avoid blowing up accounts are just the beginning of the strategies that will increase your odds of becoming a good loser.
This topic is so important that today’s conversation is divided into two parts. First is the weekly recap of the trades we took.
The second part is about the strategies that will help you to get comfortable with losses – they are part of being a trader. Understanding these strategies is essential to managing your trade, your money, and your mental stamina.
