Have you ever asked the question, maybe just to yourself, maybe to others, “What are successful traders hiding? Why don’t they tell us everything?” If you have or do, then you need to learn to embrace the loss…
Seriously at this point in your trading journey, this is your number one issue. You think we’re hiding something because you can’t take a loss… I know because I was exactly the same. In some dark place in the mind, many struggling traders think that successful traders don’t lose. They think that every week successful traders have a gain; every month is a successful month; every trade is a successful trade. And there is a belief that successful traders know what the market is going to do next…
And walking on water is a distinct possibility… No one really says it, but that’s what’s going on in the back of their mind.
Whenever we are on a succession of wins, we are gods… our words are listened to and obeyed; we are never questioned; everyone turns up to hear what we say; everyone wants to get the signals or join the Copy Trader.
Of course, that all turns upside down when we have a loss, or we have a few losses in a row.
We are forgotten and cast aside, heckled and have stones thrown at us for our lies and deceit. “You told us you could trade; how dare you have a loss.”
Not strictly true, but you get the point. And in all honesty, we only have ourselves to blame. We are after all human…
Not All Traders Are Created Equal
That doesn’t mean we are making mistakes, I just mean we are not gods, we can’t predict the future, and nor can we walk on water. We do have losses, the difference for us is that we have learned to embrace them as part of the trading game. Trading is a zero-sum game, that means in order for you to win… somebody else has to lose. No one has ponied up a couple a gazillion dollars and let traders at it. There isn’t a pot of cash that winning traders can take from.
If your taking dollars out of the market, there is someone somewhere in the world giving dollars to the market.
When you understand this, you can reframe your perception on a loss. Because you now understand that there is no 100% system, can’t be or everyone would be doing it. In which case they wouldn’t be because no one would be losing money for anyone to make money. You can’t have a zero-sum game if no one is losing. So, if we understand that, we must also understand that it is ok to take a loss. It’s part of the natural law of trading.
You have got to make it okay to lose if you want to win.
Playing the odds
When we place trades, we have no idea where they will go or how far they will keep going, and yet we do understand the need to be in the trade in the first place. No point sitting in the sidelines thinking to yourself “yeah that’s what I thought it would do” Great, how are you going to pay the bills with those successful thoughts… Didn’t think so.
You have got to make it OK to lose if you want to win!
Using Your Edge
I have no idea which trades will win when I place my pending orders, none at all. In fact, quite often it’s the one I’m least sure about that does the best. What I do have confidence in is my system. I know that at the end of the year if I can keep my mistakes to a minimum then I will make a profit.
This is because I have written rules that I follow because I understand emotions and decision making. I have also backtested my system thoroughly, so I know what it can or cannot produce. I have forward tested it with a small lot size to prove that I can trade it correctly under live conditions. I journal everything and I review monthly. And I do all of this so that I have the confidence to take the loss or losses as they come…
You have got to make it okay to lose if you want to win.
What Is Your Fear of a Loss
For the last couple of weeks, I have been sharing information on the fear of loss. What could be causing it and how to break past it. You must take the tough decision to either work on your fear of a loss by yourself as I’ve given you everything you need. Or Invest in yourself and get help to release the fear faster and easier. Our Trader Accelerator Program is unique in its ability to confront all your demons and crush them. Quite simply we have put together the only Trading course that will blow your mind (literally) with the level of mindset work that is covered.
This will improve your life, your relationships and importantly your trading. The path to success starts internally, it’s not Trading issues you have, its life issues that are affecting your trading. The Trader Accelerator Program cuts through all of life’s BS and breaks it down into workable pieces. So, you can start making the necessary changes required to be who you want to become.
Not only does it highlight any issue you may be having it gives you the quick and easy steps to rise above it. And it can do all this because I have done all the hard work for you. I had all the trading issues and all the trading fears. And I worked my way through them all. I know what works and what doesn’t. And it’s all in the Trader Accelerator Program.
Take a look and see for yourself by clicking here.
To You Success
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Latest posts by Callum McLean (see all)
- Why everything you’ve been taught about risk is all wrong and how it’s keeping you poor! - November 28, 2018
- How Successful Traders Embrace Loss in Order To WIN! - November 24, 2018
- One Bias That Could Be Causing All Your Trading Frustrations… - November 14, 2018