“Success is going from failure to failure with no loss of enthusiasm.” ~ Winston Churchill
In trading we are going to have losses, it is inevitable. As long as those losses are small, meaning less than 1 percent of your capital per trade, then there is no reason for you to get upset. Sure, no one likes losing and I get that. But, if you’re going to be a trader you better get used to it. So, as Winston Churchill puts it best for us traders is not to lose hope or enthusiasm when you take a small loss. Every loss has its lessons so keep going, keep learning, and get better as a trader. You can do it!
“Indecision and delays are the parents of failure.” ~ George Canning
Indecision can be the ruin of traders. As we see a stock we want to enter at our buy points, the worst thing we could do is hesitate only to watch it work. Then out of anger that we missed, we end up chasing the stock much higher only to end up with a losing trade. Be confident in your planned trades and take action at the right time. Eliminate hesitation and indecision from your minds. Act boldly! You are stronger, smarter, and braver than you think. Take action!
“Cut your losses short and let your winners run.”
We all have heard this saying before. It couldn’t apply more than today. When you see the markets make a sharp turn and many stocks are getting hit, you cannot be stubborn and hold on to your positions thinking the market will recover. No, you must follow your rules and get out where you placed your stops. If the market turns we can always get back in. It’s as simple as that. Stay mentally fit and be ready rather than upset, hurt, and hesitant. Remember big wins is the key to market success.
“Life is 10% of what happens to me and 90% of how I react to it.” ~ Charles Swindoll
It’s easy to get upset and blame yourself or others for situations that don’t end up the way you expected. You can make any situation 1000x worse by how you react to it. You can let the situation control you or you can control the situation. We must practice to control the situation. I understand this is easier said than done, that is why I used the word practice. The more you practice controlling yourself in the face of adversity the easier it will become to master yourself. Use mindfulness to realize you are losing control and need to regain it back.
“My dear friend, clear your mind of can’t.” ~ Samuel Johnson
Forget your past, it’s over. Focus on the present and work with what you got today. Don’t let the pain of previous losing trades stop you from making new and better trades tomorrow. Learn from the mistakes and move on. Motivate yourself and do what is needed to be done. Success in trading takes work, get up and make it happen!
“If you spend too much time thinking about a thing, you’ll never get it done.”~ Bruce Lee
Going forward we must develop the right mental attitude. We must shift our brains to see the positive in the negative. We must gain the strength to withstand any adversity. We must become fighters rather than quitters. To succeed you must push yourself through the pain. We me be decisive, courageous, positive, and most of all action takers.
Read books or take courses that can train your mind to be the best you can be. Repeat positive affirmations multiple times daily. You are capable of becoming what you want to be, even if you don’t think so at the moment. Do yourself a favor, don’t hold back and go for it!
It all starts with you, in order for your life to change, you must change.
If you haven’t done anything to improve yourself or your circumstances lately then why do you think your life will get better? What will happen is it will continue the same way it has been. To change your life you have to change yourself first. Read the books that matter, attend the courses that matter, do whatever it is you have to do that matter. By taking action on your life now will be the start to your success in the future.
“You will either step forward into growth or you will step back into safety” – Abraham Maslow
Get out there and get uncomfortable. By stepping forward into growth you have to do things that you normally wouldn’t do. Wait for the right time to take action and you’ll be waiting a long time. There rarely is a right time but there is a right now. Go do what you have to right now to achieve the success you deserve.
If you found this useful, then join me and my members and trade with us. Entries w/ stops and trade management to ride our winners. Visit AmyAtrade.com to register!