Do Not Let Just One Trade Take All Your Profits

Do Not Let Just One Trade Take All Your Profits

It is a quite common thing to see people making good and safe profits for months and then, from nowhere, take a big hit in just two weeks that wipe out all their efforts and earning from the past months. This is a common happening and has probably happened to most great investor at their early years. I'm not a big-time trader like George Soros or Jesse Livermore, but I too have made this same mistake.

If this has happened, or it is happening to you, do not worry. Well, worry, because you are losing money. But what I mean by do not worry is to believe that this happens more often than not and would differentiate the good from the great is their ability to learn from their mistakes. Understand this and then the next time some big, huge, once in a lifetime opportunity presents itself to you, think twice before leveraging your money and going all in. You might fall harder than you expected.

I've seen it long, six months' worth of effort, sweat and hard work, wiped out in just a small and quick move in a one week span time. This has happened to me and I felt terrible at the time. How couldn't I? I do have maybe just like you a house and family to look after and I could not allow myself such mistakes. This is a big pressure and one that you must put it aside when trading in the markets but and this is a big and hard but at the same time, you cannot forget that there are people who depend on you.

This is one of the hardest and one of the most important abilities to have if one wants to be successful as a trader in the stock market. You must develop an ability to ignore your emotions and feelings and treat the market with a complete disregard for all the luxury and power that money can bring you while, at the same time, keep a note on the back of your head to remember you that if you fall, more people fall with you.

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