How To Handle A Losing Trade

(QQQ)(DIA)(GLD)(FB)(NFLX)

by DeWayne Reeves

Sneeze Or Earthquake? How To Handle A Losing Trade

If you are confident in what you are doing taking a losing trade is like a sneeze.. you don't know when its coming, you don't like it when it happens, but it's over quickly and you move on subconsciously, knowing that your life and outlook has not changed because of the 'sneeze'

If you are NOT confident in what you are doing a losing trade can be like an earthquake.... again you don't know when its coming, you don't like it when it happens, it is over with quickly but the results that lie around you are a constant reminder that something went wrong.  Those results make you want to change what you are doing, where you choose to reside (in this case what trading room to be in) but there is always the nagging reality that the earthquake can and likely will still happen, over and over again..

 

So the question becomes,

"How do I become confident in what I'm doing?"

The answer is really quite 'simple' Repetition! Just like successful athletes, you have to perfect your game plan before you will become successful. You have to practice your game plan over and over and over and over and over (you get the point) before it will become second nature for you.

 

Successful traders sit at their desk in the morning not concerned with what they are going to do that day. They know what to do every time the opportunity is there. Like a successful NFL quarterback, they know what to do when the opportunity presents itself, they just have to be able to recognize the opportunity. When a pass is dropped the quarterback does not switch sports or teams... he looks for the next opportunity knowing that what he has done was right, it just didn't work out. The odds are very much in his favor that the next opportunity will result in a gain (or winning trade).

 

We, at CFRN,  do the same thing over and over and over and over (you get the point)  We don't win every trade.. nobody does. We just have the confidence to do it again and again and again regardless of the outcome of any single losing trade... How?? We limit the size of our losses and we practice the same technique over and over.

 

So which would you rather have when you lose a trade? An earthquake or a sneeze?

If the answer is not clear, read this... over and over and over and over until it is.

Mike B.

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