A lot of people disrespect our choice of going into trading. They think that trading is only losses and nothing else. There is no possibility to win and to earn. Only losses are painting our trading days. Or so they think.
But what if I tell you that it is in fact possible to trade with no losses at all! It is possible to build your trading system so that losses are never going to visit you.
But how does one achieve that?
1. Determine your risk tolerance.
2. You need to trust your own judgement.
3. Stay away from bad trades.
4. First trade with DEMO.
5. Implement one of no-loss strategies.
6. Summary.
1. Determine your risk tolerance.
First you need to understand how you are going to deal with losses. How well do you handle risks? How well are you going to handle being kicked to the ground. After all markets have all the possibility to do that. Are you going to be able to stand up and go on? These answers are going to be very important to your trading career.
2. You need to trust your own judgement.
There is always going to be someone who is going to doubt your abilities and your ways. And there is no way it should be you, right? If you have settled with particular trading signals, particular assets group and particular trading strategy, it is better for you to trust your own judgement on these questions.
After all, more difficult matters are going to require your decisiveness even more. And you can’t afford to doubt yourself.
3. Stay away from bad trades.
Do not think that you can be sneakier than the markets. Do not think that you can outsmart the chart. If it is going lower and lower, you need to SELL and there is no doubt in that. Do not try to implement the strategy where they say that you can stay with the failing trade just to see it go up at some point. Especially given that if trade is going lower it doesn’t mean that it is going to go higher at some point. There are examples of that.
Stay away from falling chart and you’ll be fine.
4. First trade with DEMO.
Demo account is perfect news for beginners and those who want to escape losses at all cost. It is a perfect tool to implement all your knowledge and try all of your strategies without having to lose money. Any money. Isn’t that great? If your broker has a possibility to give you a demo account, always take it.
You wouldn’t get on a bicycle without riding with training wheels first, right?
5. Implement one of no-loss strategies.
Yes, they are indeed working. But here is the kicker – you need to be a real pro in order to successfully implement something like that on practice. Those who trade as a hobby are not going to be able to implement them with no additional knowledge. You need to have a special feeling of the market for the no-loss strategy to work.
6. Summary.
Of course it is possible to trade with no losses. But losses are essential part of trading. With no losses there is going to be no fear within you and you are not going to feel the risks that trading carries within itself.
So, while trading without them is a pretty good concept, we really need to lose to see the real trading in all its colors.
