Being right and losing money.

I am going to rant here so turn around if you want.  To become successful in anything competitive requires you to think slightly different or do things differently or sacrifice something others are unwilling to. It is often the subtle mind shifts or behavioral changes at the right time that will catapult you to success. This is especially true in trading.  Many times it is a thought or belief that is holding you back.

There is no such thing as being right and losing money.  Being right means making money, there is no other definition as far as I am concerned.  STOP FUCKING SAYING IT.  You can not pay for anything with moral victories.  I would argue it is best to feel nothing, that is almost impossible.  But a loss should not feel good. Saying you were “right” has a tendency to make one feel good.

Instead of feeling a sense of accomplishment the correct feeling should be a sense of possibility.  You are so close to getting it right/making money but that last bit is often the hardest.  Congratulate yourself later, you have work to do right now.   Ok, end rant and good luck.

We would really appreciate your feedback, if you like, hate, or think we are full of crap. Please leave a comment, a voice mail (312) 725-9121, email info @ traderhabits (dot) com  or twitter
Subscribe to MyTradingNetwork.com/blog by Email

  • Pingback: Tweets that mention Being right and losing money. | traderhabits.com -- Topsy.com()

  • Good post Eli. Curious what u saw that made you write it.

    • It is related to the post before this one. I was trying to see what specific problems they were having with timing. Or more accurately why they felt the way they did. Was it because they were not making money when they thought they should or being in a trade for too long causing them discomfort. I think they are separate problems. It is a destructive phrase if you ask me.

3 Responses to Being right and losing money.

  1. […] This post was mentioned on Twitter by Eli Radke and Jeffrey Carter, Michael Bigger. Michael Bigger said: RT @eradke: A RANT POST. Being right and losing money. http://bit.ly/eX1MgD $STUDY #FT71 […]

  2. Benko says:

    Good post Eli. Curious what u saw that made you write it.

    • Eradke says:

      It is related to the post before this one. I was trying to see what specific problems they were having with timing. Or more accurately why they felt the way they did. Was it because they were not making money when they thought they should or being in a trade for too long causing them discomfort. I think they are separate problems. It is a destructive phrase if you ask me.

The services and materials provided should not to be interpreted as investment advice, an endorsement of any security, commodity, future, or personal investment advice, or an offer to buy, sell, hold or trade futures, options or commodity interests or a recommendation to buy, sell, hold or trade futures, options or commodity interests. You assume the entire cost and risk of investing and are solely responsible for any and all gains and losses, financial, emotional, or otherwise, experienced, suffered, or incurred by you.

Read previous post:
Dealing with entry timing.

I got this question today. How do you personally get around from being "too early" or "too late" on an...

Close