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BOUNCE BACK FROM DEFEAT

 All traders have bad days.Some days you will get stopped out. They are inevitable.


“How can you be so stupid? You call yourself a trader? You ought to stop

that. It is not possible that anyone could be worse at their job than you.”

Traders are great at really beating themselves up.


After one of my favorite athletes, Phil Mickelson, blew a chance to win

at Winged Foot by overcooking his driver on 18, he said in the press room

afterward, “I’m such an idiot. I can’t believe I did that.” I knew exactly how

he felt. This is the raw emotion right after combat.


But then you have to move on. You must take some time, let go of these

feelings, and start to work on getting better. And when you gain maturity

as a trader, you will learn the importance of seeing your failure as an opportunity to learn. What can you do starting right now to get better? How

do you eliminate your mistakes from today?


Every rip can make you a better trader. Embrace these tough days as

a learning experience. Thank the market for offering this opportunity.


Resilience is a skill developed.

Thomas Paine quote, “... the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly: it is dearness only

that gives every thing its value. ...” The day doesn’t end until the market is closed.


“As a novice trader, it

is important to be resilient. You are never going to be right all the time.

That’s hard to swallow for a lot of novice traders.” you must learn to accept you

are going to be wrong often and bounce back.

Consistently profitable traders adapt. But when you start, you must master basics.

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