T or F: You are as good as your last trade
You cannot control what the market will do. The sooner you learn this fact and embrace it, the better your daily, weekly, and monthly profits will be. The market is like a gigantic wave and the trader is the tiny surfer trying to catch a ride on it. Once you realize you cannot control the wave, the market, but you can only control how you react to the market moves. Do this and you will be lightyears ahead of about 80% of other retail traders out there. It can be very, very difficult to overcome our human greedy desire, our desire to make a million bucks this year, our desire to make 100 pips today, our desire to surf the ultimate wave for the longest ride. I cannot tell you how many times I was in a winning trade and my greed for more pips let the winning trade dwindle back down to breakeven or even go negative. Or, I would hold a losing trade much too long waiting for it to turn around in my favor. I would beat myself up for not getting every single pip in each move, and I beat myself up for each losing trade. But you know what, you just cannot do that. I now average between 50% and 80% profitable trades and I cut losing trades as soon as I realize that they are losers. Period. So what is the answer to the question: true or false ? FALSE!! The truth is, you are as good as your average. And the average will make you millions.