As the saying goes....."Knowing is half the battle". Well in trading I would say that "Knowing is %10 & Follow Thru/Execution is %90 of the battle".
If you knew that you could make a great deal of money but you would have to pay someone to let you work to produce this income, would you be willing to do this?
It seems like a simple and easy question, but really think about it. Would you be able to handle paying someone just to let you work??? What if you could make %100 per month, but you were going to have to pay out %20 to someone just to let you make this money? What if you could make %200 per month but you would then have to pay someone %40 to make this money? Would it be worth it to you?
It would seem that the obvious answer here is YES OF COURSE! But suprisingly traders have a difficult time getting past this when it comes to trading. As we all know trading is not %100 & there will always be losses and emotions attached to those losses. However, if you have a profitable trading strategy this is the exact same scenario. The losses that we sustain are simply us paying the fee to make more money!
Trading is a business & no business is free. Try to think of losses as a fee for the upcoming gains that you will make. If you can learn to think like this, you have now advanced to the next level of your trading. We must always remain humble in our approach to trading & allow the markets to provide our wealth, which is why we allow the markets to give us permissions to place trades. It is the language of the financial markets & learning this language is the first step to your financial stability & freedom!