Novice traders often panic when they have few losers in a row. On the contrary experience traders understand that losing is an intrinsic element in the game of trading. This attitude is linked to confidence because experience traders are confident that they will win over the long run, individual trades no longer seem horrible; they simply appear inevitable.

There is no more certain recipe for losing than having a fear of losing. If you cant stand taking losses, you will either end up taking large losses or missing great trading opportunities, either flaw is sufficient to sink any chance for success.

When your analysis, methodology, or gut tells you to get into a trade at the market instead of waiting for a correction, do so. Catching part of the move is just fine.

Just because you missed the first major portion of a new trend, don’t let that keep you from trading with that trend (as long as you can define a reasonable stop loss point).

Maximize gains, not the number of wins. The success rate of trades is the least important performance statistic.


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