When you make the wrong decisions and you lose big in a trade, you feel like it’s the end of the world. As traders, we all make mistakes from time to time. When this happens to me, I take a step back, think about what is really important in life and put that bad trade behind me. Quitting is never an option. After I get over the loss, I review my trade plan, determine if the mistake was me or my plan, make the appropriate changes, drop my trade size and slowly start trading again with a much smaller position. I then slowly increase the size of my trades until it reaches the right size. This process can sometimes take months. Patience with trading is key to success. I have done this many times and now I seldom take large losses. How do you manage large loss? #simpleoptionstrategies
Talk soon,
Al Losada
Founder | SimpleOptionStrategies.com
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