Wednesday, January 27, 2010

Losers

Interesting that both yesterday and today I started out with 6 consecutive trades that did not work out before probabilities reasserted themselves and a winning trade resulted.
Loses were small since protective stops were in place so the first couple of winners brought me back positive.
Just a reminder that it's a funny game where anything can happen, no one can control or predict the events. As traders we can only control our reaction to the events and always be prepared to manage the downside potential so as not to get psychologically or fiscally damaged. Using stops and deciding before you get into the trade the point at which the reason for the trade will be proven wrong will protect you.
Confidence and total belief in your yourself and following your trading plan will make you a winner in the end.