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The 10 Largest Trading Losses In History

I take away from this the same lessons I got from the movie Rogue Trader (the story of Nick Leeson and his employer, Barings bank; a must see for all investors/ traders) and every good book on trading I've read. Set my loss stops at the time the trade is entered and honor them as I would a promise to God. Don't just "accept" small losses, rejoice in them. I am preserving my equity to be able to fight another day. After a series of losses, STOP TRADING! Take a "time-out", study my bad trades, allow the wounds to heal, while perhaps re-reading O'Neil, Elder, or Landry. Resume trading in small steps; Don't fall prey to "the gambler's impulse" to bet bigger to "make up the losses". That is a real loser's game, whether trading derivatives or anything else. Proper money management will not guarantee success. Nothing does. But it will help me to survive. And that is half the battle in this business.
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