A nice quote I got from the internet.. "if any budding trader reading this thinks that the best way to trade is to find a way to avoid taking losses, you're just not ready to trade at all.
Losses aren't mistakes, they aren't 'bad' investments, they're not disasters - they're just overheads like your power and phone line and your computer. They are part of a trading year and should be covered in your trading plan. Failing to manage losses IS a disaster of course, as are (at the risk of sounding arrogant) refusal to accurately recognise your environment and to learn from it."
The reason why I'm posting this is because I think a lot of traders let their losses get to them.. Some people actually trade without stops just to avoid losing.. But like the guy said, losses are part of trading..
Losses aren't mistakes, they aren't 'bad' investments, they're not disasters - they're just overheads like your power and phone line and your computer. They are part of a trading year and should be covered in your trading plan. Failing to manage losses IS a disaster of course, as are (at the risk of sounding arrogant) refusal to accurately recognise your environment and to learn from it."
The reason why I'm posting this is because I think a lot of traders let their losses get to them.. Some people actually trade without stops just to avoid losing.. But like the guy said, losses are part of trading..