If you are Trading according to proper Risk/Reward Management Strategies you should never Lose a lot of money, At least at any one time.
If your losing over a long series (15-20) of Trades and Bad judgments, and told me that you "lost a lot of money" I may even feel bad for you.
But when its over 1 day, and you say utter those words, its clear you are not using an equity curve or following any real risk management plan.
Holding a Trade for "a lot" of money losing negative equity movement will drain all of your money eventually.
You should only Hold Winning Trades for Large amounts of time, or for "a lot" of Gains. This is why your Trading.
This Message was Brought to you by the Fine People of Risk Management, Inc.
Remember Friends Don't Let Friends Hold onto Losing Trades and Sell Winners To Soon.
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1 comment:
This has to be your best post yet. This is very true because you have to take emotion out of your positions. If you lost a lot of money in one day, then you are not in control of your trading. JBX
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