You are not a loser because you have a losing trade on. You are, however, a loser if you do not get out of the losing trade once you recognize that the trade is not going to come back. It’s interesting to note how accurate your instinct is as a market indicator. If, you have the idea or instinct that the trade is not going to work then it’s probably not going to work. Just close the trade, clear your head and emotions and get on with the next trade. Every trader will have some losing trades throughout the day or week. Each day or week of trading we should have some losses, breakevens, and winning trades. The goal is to be profitable at the end of the day or week. Close the trades that go bad, don’t worry about the trades that broke even and make sure the winners are larger than your losers.
