Author: Ilan

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Voted #1 Blog and #1 Brokerage Services on  TraderPlanet   for 2016!!

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Dear Traders,

I must admit today’s volatility was tough for me both as a trader and as a broker….

Some days are just losing days….

Don’t fight it. You will have losing days. I have been in the futures industry for 20 years now and never have I met a trader who did not have a losing day…and  I will never meet one….impossible.

Understand it and accept it.  One of your hardest jobs as a day trader is to make sure a losing day does NOT become a disaster…Our human emotions and our brain is not programmed very well to learn how to lose. Yet one of the key differences between traders and those who try to become “traders”…is that traders first learn how to lose. They understand losing is part of trading. The others, refuse to take a lose and will make many mistakes along the way to make a “normal losing” day into a disaster. That may be carrying positions overnight when they normally don’t, reversing, pyramiding and many other mistakes that they would normally not make. That turns a “normal losing day” (maybe for an acct of $10,000, a normal losing day would be down $500?) into one of those days where they wipe out half of their account if not more….

Sometimes we need to learn how to lose before we can excel in trading.

Continue reading “Before you Can Succeed as a Trader, you Need to Learn How to Accept a Losing Day 4.25.2018”