“Whenever I take a position, I like to imagine what it would be like under the worst-case scenario. In doing so, I minimize the confusion if that situation actually develops. In my view, losses are a very important part of trading. When a loss happens, I believe in embracing it.” IfsBelieveImportantHappensWould BeI BelieveLossViewsSituationCasesImagineWorstPositionI Believe InConfusionTradingScenariosWorst Case Scenario Author:Gil Blake
“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don't cut their losses short.” PeopleIfsKnowsImportantReasonWould BeSoundLosesLossCuttingEmotionalKeysDisciplineFinancialMaking MoneyTradingFinancial Markets Author:Victor Sperandeo
“On some level we trade passion for security, that's trading one illusion for another. It's a matter of degree. We can't live in constant fear, but we can't live without any. The fear of loss is essential to love.” MatterPassionLossLevelsSecurityEssentialsDegreesIllusionTradeConstantTrading Author:Esther Perel
“I basically learned that you must get out of your losses immediately. It's not merely a matter of how much you can afford to risk on a given trade, but you also have to consider how many potential future winners you might miss because of the effect of the larger loss on your mental attitude and trading size.” MatterMightGivenLossAttitudeRiskEffectsMissingTradeSizeWinnerTradingMental AttitudeYour Loss Author:Randy McKay