Trader Mindset

This episode is on YouTube.

The discussion kicks off with a critique of popular trading adages, particularly regarding managing winners and losses. Techniques like trailing stops and position management take center stage, emphasizing the importance of rules in trading. Limited capital and opportunity costs are explored, alongside the wisdom of cutting losing positions before weekends. The concept of preemptively exiting small losses is introduced to conserve mental energy. Finally, the dangers of clinging to losses are highlighted, leading to the crucial lesson that the first loss is often the best loss.