This is a phrase that is talked about often but how many people can actually say that when they look back in their lives enjoying the good and bad that come from the journey is a goal that was achieved?  My gut tells me that most people do not enjoy the journey and in today's world of media, cell phones and instant access to the news has taken away the pleasure from our path.

In our business of trading for our livelihood living in the moment and keep a positive outlook are hugely important.  Once you have learned technique, trading comes down to executing properly (aka psychology) and money management (which often equates to living in the moment).  Traders also need to know that gains and losses, ups and downs are a part of this business and embrace the losses as a teacher and a motivator.  Gains are great and of course that is what pays the bills, but the best traders learn to love losses and are happy to book them sooner than later. 

The trader that holds losses is doomed in this business but cutting losses is counter to our psychology, as I often hear from students that they are happy to book profits, but they add to their losses and let the losses mount.  If I find that I have been letting my losses mount too much, I will move to the extreme and cut losses amazingly quick, this technique will get me back to center and cutting my losses at the right moment.

When you enjoy the journey, you are not afraid to book the loss, it is just a means to an end in our business.  When you are stressed about the path you have chosen then holding the loss becomes more common as you are chasing profits and hoping instead of using your tested methods for earning profits.  Change your outlook today on losses, I am successful about 65% of my trades, so every time I have a losing trade, I am one trade closer to having a winner and with this mindset I embrace the loss for what it is and I don't let the loss kill my day (BTW I am not perfect, of course I will let a loss go sometimes, but it happens rarely).

When life is good, it is easy to party, when life is not perfect people tend to ponder but remember to enjoy every day, every trade and look back on your path as one of excitement and enrichment.

Happy Trading!

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