Avoiding Mistakes Means More Profit…
And the more you avoid, the more you get to keep!
All of these 3 have driven me nuts in the past at one time or another…
Ever had an afternoons trading where it goes a little like this:
- Your all set, fully prepared before you start.
- Things start off okay. You’ve made a few small wins under your belt; life’s good!
- BAM, a big loss wipes out your previous hard-earned cash and more, it’s gutting but you carry on
- BAM it happens again…
It’s a pretty most common experience amongst new traders learning the ropes. If it’s happened to you it’s important not to feel like a failure, it’s completely normal!
The important thing in the early stages is how you deal with it…
Let me highlight a few things as to why I believe this happens. Hopefully it will allow you to put yourself in a situation where it doesn’t happen, or at least not as often!!
Watch the clip below and I’ll explain fully… (just to hear the story of how I screwed up before makes it worth the watch)
By eliminating the 3 problems mentioned above I made a huge change to my results.
As I’ve said previously on the blog ‘It’s not just about winning, but not losing’. When you think about it; if you’re not in control of your losses as much as profits then it’s likely to make a huge dent in returns over a prolonged period. Most people don’t quite realise how much trading losses effect their overall returns, I certainly didn’t.
In the coming months I’ll be looking to add a few more videos like this. I’d be keen to know what your thoughts are after watching, make sure you comment below!!
Useful Article: 3 Horse Racing Trading Strategies
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