The Right Way To Think About Stop Losses

Trade Just One Stock? It's True - Learn More I thought I would talk a bit today about Stop losses. Yeah...Yeah, I know you have heard it before… How many times have you been told… Always have a mental or hard stop in the market… Probably dozens right? But just because you've been told and know its the right thing to do, sometimes it's just difficult for some traders to wrap their head around taking a loss on a trade.. Listen, if you are having this issue, then believe me when you I tell you, that you need to work on this and the sooner the better. Why? Because...eventually you are going do damage to your account. So let's try to rewire the way you think about stop losses. We'll break this down a bit so you are thinking in the right way about stops and losing trades in general. Okay so what I have found works is... Don't think of stops as a loss, instead think of them as an expense. You are in the business of Trading, and businesses have revenue and expenses. Expenses are a normal part of doing business. Everyone understands expenses, and every business has them….Rent, employees, supplies exc. So once you start treating and thinking about your trading like a business, losses will no longer drive you crazy. YOU will train your brain to think of them as a normal cost of doing business. And that's exactly what it is. It is the normal cost of doing business as a trader. This is an exercise I try to teach all new traders, and if you do take the time to soak this in, you will be better for it. So stop driving yourself MAD every time you have a losing trade...change the way you THINK about it….know that you are not going to win every trade, and that okay. So long as your PROCESS is being improved, that is all you can ask for. --Vic The Economic Consequences Are Irreversible This is an inflation emergency. The impact of war is rippling across the globe. It's driving up prices more quickly than anything we've seen in our lifetime. And it's barely begun. What impact will this change have on your money? How may it disrupt your financial future? How can you prepare starting right now? To help give you an immediate answer, we just released an urgent emergency briefing. To listen in, join us here

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