So, why can’t some traders take the loss? What’s behind this self-sabotage?
The belief that one might be an actual loser if they take a loss is popular refrain on my coaching calls. They take it personally. Meaning is assigned to the loss. Emotions take over and before you know it, a small loss snowballs into an even bigger loss.
It’s crucial to take the loss.
Consider taking the loss as an insurance policy. You pay for the peace of mind. You can rest easy and Keep Calm and Trade On.
With a stop in place, you know that you can get out of the trade. Not taking the small lo
ss may be the reason why you’re not making money. They can really add up if you don’t have a plan in place.Taking the loss is not a loss.
If you’re not taking the loss I challenge you to change your perspective. Expect losses. Look forward to them. They happen. It’s part of the deal when you’re a trader. Sometimes it’s as frequent as every third or fourth trade.
Losses are necessary on the path to making money. When you take the loss, you’re covered against future losses. Appreciate that you have a protection plan in place and resume trading.
If you totally lose it when confronted with a loss and can’t seem to get out of the loop, I’d love to hear from you. Email me to schedule a complementary call.