It's a sacrifice in a process to be good in this business. Not just sacrificing your time,
but also sacrificing your funds even in any kinds of business. Just let it be parts of your career...
The horrors of losses
- Thread starter Xenomorph
- Start date
It's a sacrifice in a process to be good in this business. Not just sacrificing your time,
but also sacrificing your funds even in any kinds of business. Just let it be parts of your career...
Sacrifice? lol
But I agree, every business has a cost to struggle. Your money, your time, your dedication, discipline, and many more. But at the end, it was all worth it...
This is a good perspective. I've had my losses for sure but realize that I'm taking risks - just like you said. The same would be for any business I start. My trades are based on increasing my probabilities of success. FEAR is one of the biggest hindrances to me trading successfully I've found. Being indifferent to losses though is foolish too.
Greetings TH,
"FEAR is one of the biggest hindrances to me trading successfully I've found. Being indifferent to losses though is foolish too."
That depends on how you are mentally framing what you define as a loss. If after every single trade you're evaluating your wins and losses, that my friend is the Royal Road to Hell. Understand that the results of any given single trade are "Random and Uncertain". If you're now defining your success or failure based on this metric, you need to change your way of thinking.
While also being indifferent to losses is not advised, forming conclusions and opinions based on a few trades is even more foolish. You need to conduct a Performance Evaluation of YOURSELF and YOUR METHOD, only after you have gathered enough "Statistically Significant Evidence" to make a realistic and viable determination of your progress or lack of it.
Hope this thinking PROCESS helps.
KDASFTG
"FEAR is one of the biggest hindrances to me trading successfully I've found. Being indifferent to losses though is foolish too."
That depends on how you are mentally framing what you define as a loss. If after every single trade you're evaluating your wins and losses, that my friend is the Royal Road to Hell. Understand that the results of any given single trade are "Random and Uncertain". If you're now defining your success or failure based on this metric, you need to change your way of thinking.
While also being indifferent to losses is not advised, forming conclusions and opinions based on a few trades is even more foolish. You need to conduct a Performance Evaluation of YOURSELF and YOUR METHOD, only after you have gathered enough "Statistically Significant Evidence" to make a realistic and viable determination of your progress or lack of it.
Hope this thinking PROCESS helps.
KDASFTG
Every losses is not avoidable, but you can minimize those risk of losses (yeah, dude. you can do it!)
Do not fear, you are taking your own risk, you just need to train yourself on how to minimize that risk...
Yes, thank you for the input. The "random and uncertain" aspect could be said about LIFE in general. Hahahah. Amazing how much trading has related to who I am and what I do. Gut wrenching at times and glorious at others. Can't let those candles dictate to me nor the storms life throws at me either. Thanks again.
You're trading with your own risk and you need to understand it first before placing your order. The horrors of losses is still strong for newbies, but as long as they consider it as part of their career, they could be lot more better in the future.
As long as newbies still learning and attempting 'trial and error', they're exactly improving their trading skills.
Correct
The more they train their trading skills, the better trading performance they will get (as long as they still willing to evaluate their performance time by time).