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Take the Next Trade

Trading Psychology

Take the Next Trade

 

“If you don’t bet, you can’t win…”   -Larry Hite

After a streak of losing trades its very easy to begin doubting yourself. Your ability to trade, the efficacy of your system or the feasibility of trading as a profitable endeavor for you at all. These thoughts and feelings are natural and even the best traders can suffer from them from time to time during a lean period in their trading journey. Our job as traders is not to let these thoughts and feelings affect us so much that we become fearful of the markets and begin to think irrationally. As I have said before trading is nothing more than the exploitation of a demonstrated edge over a large enough sample size that will allow that edge to work its magic.

So in short as Larry Hite so aptly stated “If you don’t bet, you can’t win..”.

No matter how you feel after a losing trade or a string of five losing trades great traders realize its truly only about the numbers. If you have an edge, the law of large numbers will work for you but not if you get discouraged or fearful and quit.

Keep going..keep pushing. You will win if you don’t stop.

Take the next trade..

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