Last week I told you that 2015 will be a good year for Better Trader members. However, I must warn you that it's not going to be plain sailing all the way. There will be some pitfalls along the way.
Why am I telling you this? Because there are still people out there who think I have a crystal ball, who think I should get it right all the time...The truth is, those who claim they make money every week are deluded and dangerous. If you follow them you will lose everything...
You see, successful trading is not about making a profit day after day, month after month but over the long term. There will be profitable periods and non-profitable periods but the profits accumulated during the profitable periods will exceed the losses made during the non-profitable periods. That is how a good trader makes his money.
There will always be trades that go wrong, it's inevitable and you must accept this in order to succeed. You must not be demoralised after a series of losses, you must remain calm and focused.
The good thing is, when you become a member of Better Trader, I will tell you how to manage these losing trades so that you are profitable over the long term. That is one of my objectives in 2015. There are two ways to minimize losses:
- By having an exit strategy that will minimize the loss when a trade goes wrong
- By opening the trade in an area where the risk of losing is low
That's it for today, next time I will tell you about the risk/reward you should adopt.
In the meantime take a look at this short video where I discuss the Better Trader reports:
Become a member now! click on the link to subscribe:
Until next time,