Wednesday, May 16, 2012

What to do when you have a "bad" trade

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

I placed the word bad in the title in quotes for the same reason I did it for the bad investing video. A losing trade where my account has a loss of money is not a bad trade it was a losing trade.
As traders we will have losses. We do our best to plan the trade and predict the market direction and we will be wrong. That can be calculated in. What can be controlled and needs to be controlled is making stupid choices that we know we shouldn't

While this trade was important and shouldn't be blown off as no big deal it also shouldn't be made more then it is. It was one bad trade. It was a learning experience which is what the demo account is for. You can be sure I will take this trade with me for quite awhile.

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.

1 comment:

  1. Airelon had a video about talking about personal junk on his blog a few years ago talking about everything that is going on in your life affects you trading and investing.

    This video shows how true that is, where you have stuff in your life that you are dealing with right now and it affects your ability to have the right mindset for trading.