=======================Quote from Humpy:
Ever had that truly dreadful awful feeling inside when the trade is going the wrong way ? and the stake is big ?
Does one tough it out or take a huge loss ??
That is the Question most traders have to face every so often.
As Joshua Lukeman says[Market Makers Edge];
realize you could lose it all.
So if you were wise ;
in position size,
that helps a lot. It rhymes also.
In other words, honestly, if you cannot afford to lose that''stake is big.'', ????it was too big, bad business. So to answer your question, do you plan , on a certain amount of business exspenses?????
.God did intervene in showing me ''a trading loss is a business exspense, part of doing business'' That really helped, i used to get upset over any size loss[breakeven is a loss, also, unless God gives you free solar power, free computer.....,LoL. Never got upset in buying real estate,, another business exspense
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So stocks have a long term upward bias;
derivatives frequently , a firm expiry date,LOL. We are still in a bear market,QQQQ,SPY, but perhaps due for a rally.