Winners learn more from losses than from wins. When a profit is taken, there may be little room for improvement. When a loss is taken, a trader's self-discipline and self-control are the first things to be examined. The second aspect of studying a loss is to see how the actual price action caused the loss. Was there a trend reversal; an unexpected gap? Most beginning traders sustain losses du...
Trading Educators Blog
Which would you be willing to part with first, your money or your self-esteem? If you are like most traders, you are likely to let your money go before your self-esteem. Trading stories are full of traders who gladly fed losing trades to avoid admitting the fact that they made a mistake. They hoped against hope that a losing trade would turn around if they could merely wait long enough. In the en...