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Old 11-09-2009, 12:34 PM
Albert04 Albert04 is offline
Newbie Amateur
Join Date: Oct 2009
Posts: 11
Post We am always thinking about losing money as opposed to making money

We am always thinking about losing money as opposed to making money

The most important rule of trading is to play great defense, not great offense. Every day we assume every position we have is wrong. We know where our stop risk points are going to be. We do that so we can define our maximum possible draw down. Hopefully, we spend the rest of the day enjoying positions that are going in our direction. If they are going against us, then we have a game plan for getting out.
Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead.
We know that to be successful, we have to be frightened. Don't focus on making money; focus on protecting what you have.
The traits of a successful trader: The most important is discipline Everyone says that. Second, you have to have patience; if you have a good trade on, you have to be able to stay with it. Third, you need courage to go into the market, and courage comes from adequate capitalization. Fourth, you must have a willingness to lose; that is also related to adequate capitalization. Fifth, you need a strong desire to win. If you can't take a small loss, sooner or later you will take the mother of all losses.
There are old traders and there are bold traders, but there are very few old, bold traders.
If you argue with the market, you will lose. It is incredible how rich you can get by not
We have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.

Frankly, We don't see markets. We see risks, rewards, and money

The markets are always changing, and the successful trader needs to adapt to these changes.

The secret for winning in the stock market does not include being right all the time

Some people say, "I can't sell that stock because I'd be taking a loss." If the stock is below the price you paid for it, selling doesn't give you a loss; you already have it.
Letting losses run is the most serious mistake made by most investors.
The whole secret to winning in the stock market is to lose the least amount possible when you're not right.
Before taking a position always know the amount you are willing to lose.

Best Regards
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