Hello traders. I have a pet peeve:
Trading vendors pretending like losses don’t happen!
I see a lot of flashy lifestyle photos and advertisements such as “Here’s how you can make $2345 per day with my secret strategy” while flashing wads of cash and boasting an extravagant lifestyle.
Sounds enticing, doesn’t it?
It would not be fair to market our trading group that way because each person is going to have different results based on their personality, their psychological ability to handle swings, wins, losses, follow their trading rules, and everything in between.
It is actually damaging to new traders psychologically and counter intuitive to the ultimate goal of helping them achieve success.
In fact, it leads them to believe that this is an easy business, which inevitably will discourage them at the first speed-bump and lead them to give up before they really had a chance to learn this invaluable skill.
Here’s why LiveStream Trading will never use that marketing tactic
Whether the focus be Ferrari’s, vacation homes, mountains of cash, or a “secret strategy” – there’s one thing they don’t want to talk about (or prepare you for) – and that is the inevitable losing day that happens to all traders at every skill level.
I’ve been in the business of day trading for 10 years now and working in a prop firm in my early 20’s, I’ve met every type of trader there is:
The impatient trader, the gambler, the conservative trader, the stubborn trader, the patient trader, and many successful traders, but there is only ONE thing that all the successful traders I know have in common: They know how to bounce back from a losing day, week, or month with confidence.
More about this video
In this webinar let us help prepare you for the ups and downs in trading. I’m going to walk you through a bad trading day I had and give some tips on how to overcome, reset, and get your head back in the game.
How do you bounce back from a losing day? Let us know in the comments!
Trading psychology: Handling wins and losses in trading
Jeff aka TSXtrad3r