We all know that every time getting Heads is not possible if a coin is flipped a hundred times. Probability always has an important role to play.
Same is true with trading in the stock market. It is not theoretically possible to never make a mistake.
However well founded the trading strategy, mistakes do happen.....losses do happen.
In the end what makes a trader successful is that how soon he gets over the emotional setback of a loss.
The overall profits are of course determined by successful trades, but all the more important is how much losses are incurred in wrong trades.
IT IS VERY IMPORTANT TO CUT DOWN LOSSES.
Once the risk management is in place, probability will always be favorable in the end.
Same is true with trading in the stock market. It is not theoretically possible to never make a mistake.
However well founded the trading strategy, mistakes do happen.....losses do happen.
In the end what makes a trader successful is that how soon he gets over the emotional setback of a loss.
The overall profits are of course determined by successful trades, but all the more important is how much losses are incurred in wrong trades.
IT IS VERY IMPORTANT TO CUT DOWN LOSSES.
Once the risk management is in place, probability will always be favorable in the end.
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