Trading is about making and keeping money. A big part of that is know when not to trade.
Ever now someone who went to the casino, it could be you, and the story goes like this...
"I was up X dollars, so I was playing with the casino's money and then the game turned cold."
"So did you win or lose money?"
"I lost."
What's the reason you don't quit while you're ahead in a game where the odds are stacked against you? Greed and stupidity come to mind first.
When you are trading, do you spend more time making back losses or more time riding profit?
We get back to the question, "Are you giving your money away?"
If you were going to hire someone to trade for you, what would you ask them? Would you want to see their track record? Would you want to know EXACTLY how they are going to trade your money? I bet you either answered "yes" and "yes" or you answer, "I would never let anyone else trade with my money". Is that correct? Do you know your own track record? Can you explain EXACTLY how you trade your money? THINK ABOUT IT.
You either win or lose when you trade, right? So what's your edge that stacks the deck in your favor?
What is trading? Do you realize trading is about 99% waiting for something to happen so you can either enter or exit the trade? Did you ever think about it in that way?
Do you have a list of conditions that tell you NOT to trade? If not, what's the reason you don't? Did you ever think about having such a list?
I want you to ponder these questions before we begin to STOP LOSING.
TO BE CONTINUED...