How to LET GO of a Bad Trade and Move On

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SUMMARY

In this video, you will find how to LET GO of a bad trade and move on.

In other words letting it go without any feeling of regret that can then affect your future investments and trades.

I was recently asked this by one of our Blueprint students, and here are a few pointers to help you out;

  1. Make sure you have multiple positions on at any one time
  2. Don’t have any profit expectations of how well your investment will go, we just never know
  3. Always expect that 1-2 out of every 10 investments will not work out

For those who want to treat trading like a hobby and something you can do in your spare time after work when you feel like it so you can tell people you are a ‘trader’, please don’t pursue this endeavour.

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Transcription

Hi, it’s Terry Tran here from the FreedomTrader.com, the place to be if you’re looking at creating financial freedom safely for yourself and your family.

And today I wanna show you… how you move on from a bad investment or trade.

In other words letting it go without any feeling of regret that can then affect your future investments and trades.

I was recently asked this by one of our Blueprint students, and here are a few pointers to help you out;

Firstly

The easiest way is to have multiple positions on at any one time.

You see when you have all your eggs in the one basket, it’s extremely hard to separate your emotions because you’re then reliant on that one investment or trade to make all your profits, and when it doesn’t work out the way you expected, then you immediately fall into the disappointment trap.

Whereas if you had many positions on, who cares if 1-2 don’t work out when 8-9 of the others do.

This way you can calmly get in and get out of the investment without any emotional attachment at all.

Secondly

Don’t have any expectations of how much profit that investment or trade will make.

Sometimes you’re lucky and it works out right away, other times it takes a few weeks.

Finally

here I do want you to have expectations.

Because I want you to expect that 1-2 out of every 10 investments will not work out. That’s been based not only on our own experience but also from the experience of our 400 plus students we currently have.

Losses are just part of this investment game and you must accept this fact and move on.

If the position becomes loss, know it was the 1-2 that was expected to be a loss, let it go and move on. Just say Next! and the next 8-9 will easily cover the small loss you have.

So today we covered the 3 main keys on how to get let go of a bad trade and move on;

1. Make sure you have multiple positions on at any one time

2. Don’t have any profit expectations of how well your investment will go, we just never know

3. Always expect that 1-2 out of every 10 investments will not work out

I hope these 3 key points will help you become a more disciplined trader and investor that is able to buy and sell without regret and move on to the next.

If it has, make sure you like this video and share it to help others.

Thanks for watching and leave a comment below about what you’ve learned and how you’re going to take action over the coming days with what you’ve learned.

 

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