Losses and losing runs happen to all traders no matter how good they are – they are a feature of trading the markets, a part of the game. However, some traders are better at taking and dealing with their losses than others, and how you deal with your losses can have a big impact on your trading results both in the short-term, in that trade, and over time. In this episode we look at the psychology of losing, and I share some practical strategies that can help you to manage your losses more effectively.

Key themes covered include…

• Loss aversion, ego and other reasons why we don't like losing
• The importance of being able to manage losses effectively to survive the markets
• Why all losing trades are not equal, and how to distinguish a losing trade from a bad trade
• Bad breaks,and how one client took a difficult loss
• The power of perception – the response you get to a loss is function of your mindset
• Black box thinking – how mistakes, failure and setbacks are key in creating success
• Dealing with the emotions that show up when you lose
• Risk, position sizing and knowing your own limits

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