Success is nothing more than a few simple disciplines, practiced every day. "failure is nothing more than a few errors in judgement, repeated every day." Crd#-Jim Rohn.
- You shift your stop loss because you donât want to take a loss - You take tiny profits because youâre afraid of watching them turn to losers - You average into your losers hoping to catch the bounce and recover your losses
Eventually, your poor decisions catch up with you and you lose everything (including the money you borrowed).
Now youâre worst off than before because not only are you broke â youâre also in debt.
Trading with borrowed money = Trading with money you canât afford to lose.
And when you trade with money you canât afford to lose, you make poor trading decisions because you have the âI canât afford to loseâ mentality.
If you want to excel in this endeavour, your mindset must be at peak performance.
But if you borrow money to trade, you erode whatever edge that you might have.
Hereâs whyâŠ
Trading with borrowed money = Trading with money you canât afford to lose.
And when you trade with money you canât afford to lose, you make poor trading decisions because you have the âI canât afford to loseâ mentality.
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