The Psychology Of Successfully Trading The Markets Is Not A Sport

traderplayingbasketballThe ultimate goal of any successful trader is to cut losses as tight and small as possible, regardless if whether they’re wrong or right by staying within the rules. Losses do not discriminate. The trader must also instantly be able to recognize and then admit that they’re in “lose” mode on a particular trade. This after the realization that they admit they cannot and don’t control the movement of the markets.

You need to have the discipline to know that you and only you are capable of doing substantial financial …