What Losing Traders do - they take small profits - biggest theme amongst losing traders statements - they won't take losses - adding to losers, stopping for the day, week. - they have no real trading strategy - they just move from one system to another. - they don't truly accept risk - snatching profits using very tight stops - don't full commit to trading - they need to not be wrong - they just aren't happy unless they breakeven or at least make a little profit. -they won't give trading the respect it deserves (partly the industries' fault). Trading is a hard occupation to be in and successful traders deserve a lot of respect. - expect to compete against the best in the world...and win - unfortunately, the odds of short term success in trading are not bad (50%?). In any other profession the odds of success from the start are low - pilot or surgeon for instance.
Actionable Items
Strategies
- My strategy is to hold 20 Canada stocks, and 20 US stocks.
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