14 Skills & attributes part 8

You can lose far more trades than you win. Either way, you can end up with a net gain or loss. Losing sessions and losing streaks are just part of day trading. If you need to break even faster than the market wants to give it to you, this could lead to more losses.

Successful day traders accept losses and continue to trade a solid, patient game: Not adjusting size or adding to losing positions if it’s not part of the strategy, and not letting their emotions or impulsivity take over their trading.

The difference between winning and losing can sometimes boil down to “paralysis effect” resulting from an inability to calculate the odds. They let their small losses paralyze them, preventing them from taking potentially winning trades. This is how they max out their losses and minimize their wins.

Professional traders know the average losing streak of their game and understand that while there are no guarantees, the market could also hand them favorable conditions that are in line with their method.

Short-sighted thinking and an inability to understand the fluidity of win/loss ratios, can lead to internal conflicts that can disrupt one’s trading.

Pros do not take conflict personally. Sadly, many amateurs never learn this valuable lesson.

When you play against the market you could be “bluffed”, and its part of the game of day trading. How you react to these events will determine your success, because your mental capital is just as important as your financial capital. Day trading teaches you not to take self-destructive actions because these are the actions that drain your energy and remove your focus.

© 2018 – Born2Trading, All rights reserved.

Trading spot foreign currencies (“forex”), indices, commodities or futures contract is not appropriate for all investors, and the risks of trading can be substantial. You should carefully consider whether trading is right for you in light of your particular circumstances and financial resources. By acknowledging this statement and contracting for the services provided by (“B2T”), you acknowledge that you have not sought advice from B2T regarding the appropriateness of trading for you, and B2T has not provided any such advice to you.

You agree and acknowledge further that the trading signals provided to you by B2T (trading signals) are not, and are not intended to be, an offer or solicitation to enter into any trading transaction, or any type of trading or investment advice, recommendation or strategy. You acknowledge that it is solely your decision to determine which, if any, B2T trading signals to use for trading (whether actual or simulated) at a Retail Foreign Exchange Dealer, Futures Commission Merchant or other financial institution (collectively referred to as “Financial Institution”), and whether to send all, some, or none of the B2T trading signals to such Financial Institution for execution.

You understand that past performance associated with any trading signals offered by B2T, whether actual, hypothetical or historically “back-tested” is neither necessarily indicative of nor a guarantee of future performance or success.

Trading B2T signals may result in the total loss of the funds that you deposit at a Financial Institution, and you may incur losses in excess of your deposits. Leverage can work against you as well as for you, and can lead to large losses as well as gains. Moreover, funds held at such Financial Institution are typically not guaranteed or insured against misappropriation or the bankruptcy of the Financial Institution. You should only trade with funds that you can afford to lose.

Based on the foregoing, you agree that you shall not seek to hold B2T responsible for any losses associated with any trading signals provided to you by B2T. In the event that any claims, suits, actions, damages, liabilities, obligations, losses, or expenses (including reasonable attorneys’ fees) arise out of or relate to the relationship between B2T and you, and/or any trading signals provided by B2T to you, you agree to indemnify and hold B2T harmless therefrom.