Search This Blog

Thursday, June 24, 2010

Trading Psychology and Emotional Discipline: Knowing How to Lose (VIDEO)

"A loser thinks a successful trade is just around the corner, and that his luck is about to turn. He keeps putting on more trades and increases his size, all the while digging himself a deeper hole in the ice. The sensible thing to do would be to reduce your trading size and then stop and review your system." - Dr. Alexander Elder, Author of "Trading for a Living"

This video will be included in my YouTube Playlist; "Trading Psychology and Emotional Discipline".

It involves the psychology, and the seeming contradiction of having to withstand some pain inside a trade that turns against you? While at the same time, cutting all losses quickly.

On the surface, those two aspects of trading may seem to contradict one another.

Therefore, in the following vlog entry I will discuss (and illustrate) the psychology and mindset of every trade I put on before put it on, while I am within the trade, and after the trade is completed ...

(Video Included. If you're seeing this entry elsewhere and cannot see the Video? Click here to view the entry ...)


Did you enjoy this entry? Do you enjoy other entries? Write a review on Investimonials!

* * *

Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 14 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.


Share

Search Investing and Trading Articles and Products