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Risk Management: Accepting RISK in Trading 👊 Trading
http://www.financial-spread-betting.com/Trade-risk-size.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Let's take the case of a GBP100,000 Trading Capital. If I was willing to risk 1% of that that would be GBP1,000 [10% of the 100k would be GBP10,000]. Risking 1% is okay and most traders are comfortable with this. We could make up to 10 trades in a day so we would be risking 10k. How do you feel about losing 10? Actually, I'm not that comfortable with that so why are you trading with this trading strategy then? At some point you will end up with a loss that you don't want to be in. You have accepted the risk on one trade
Coping with Trading Psychology - Accepting the Risk. It can be very difficult to get your psychology right when you are trading. As we’ve mentioned previously, a lot of your instincts and normal reactions don’t work well in a trading environment, and can even work against you.
An example of this is given in this lesson, accepting the risk. The question is did do you accept the risk that you are taking when you are trading? Every time you place a trade, you are taking on a certain amount of risk, the risk that you will lose rather than win and therefore deplete your cash reserves.
But when you took out the trade, you fully expected to win and therefore you may not be mentally prepared for losing, even if you have theoretically taken it on board when placing the trade. Think of it this way. Every time you place a trade, it is likely that you still hold some feeling for the money that you have staked, and will feel gutted if it actually goes away in a loss.
The 90/90/90 rule was mentioned in the video. This rule of thumb, which is obviously only approximate, says that 90% of beginning traders will reduce their accounts by 90% in the first 90 days of trading. You are competing against people who are experienced and have been trading for many years, so you know from the start that this is a high-risk endeavour.
Obviously your intention to learn about trading properly is to reduce the possibility that you are going to fail, but the possibility is nonetheless ever present. And it means you must be able to endure some losses, particularly when you are starting out, without becoming emotionally upset. You deal with this partly by making sure you size your positions appropriately, and work out what you think you can afford to lose.
But even then, losses can be hard to take. One way of looking at it is to say as soon as you place a trade, that money is gone, it is the price of being involved in the market. Then if the money does go away in a loss it won’t be so dramatic; and if you win, it’s all a bonus. It’s all a matter of state of mind.
Suppose you really can’t get your head around the fact that you’re going to lose, and losing again and again really upsets you. Then perhaps trading is not for you, you don’t have the emotional makeup that allows you to trade effectively and efficiently, and carry on to prove that your strategy is worthwhile.
In order to accept the risk, you have to make the risk at a level that you can live with. If you’re having difficulty working with the size of trades that your system told you can take, there’s nothing to stop you from scaling them down until you get to a more comfortable place. With practice, you’ll be able to up your stake and increase your risk to a more effective level.
Related Videos
ACCEPT YOUR RISK TO STAY IN THE GAME! ✊
https://www.youtube.com/watch?v=0l6vh_ljY0MRisk Management: Accepting RISK in Trading 👊
https://www.youtube.com/watch?v=Ow5AqK5wN84LEARN TO ACCEPT THE RISK! 👊
https://www.youtube.com/watch?v=-Kep9idw8QsAccepting and Dealing with Risk You Can't Control! ✊
https://www.youtube.com/watch?v=ffDtJAwr0PYIndicators Work. But Some Traders Don't Know How To Use Them
https://www.youtube.com/watch?v=H5btbiHhipATrading the Randomness: Do You Know The Outcome of Your Trade is Random?
https://www.youtube.com/watch?v=8sEgdVAN_4QPositive Expectancy: The Power of an Edge. How Successful is your Trading Strategy?
https://www.youtube.com/watch?v=fEfCZf-CRuYRisk Management: Accepting RISK in Trading 👊
https://www.youtube.com/watch?v=Ow5AqK5wN84Overcoming the Fear of Loss (Pulling the Trigger)
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