I wanted to pass along an email we just received from one of our coaching clients, Randy Redman. He nicely states the value of education, discipline and methods to improving your trading results:
"As I just took a 3% and 11% loss on a reduced position-sized trade, the Bigtrends ACE Coaching came to mind and I had to send a quick thanks. My losing trades are actually becoming some of my best trades, negating the equity impact of course. My losers are serving three purposes for me:
First, they are actually smaller than before coaching (nice for my account).
Second, they are serving as a great learning tool as I go back through my narrative and chart journals and see if a made a mistake or it just didn't work out.
Lastly and most importantly, they are reinforcing my trading discipline and trading rules. This is really taking the emotion out of trading as I find that I can trade in a better state of mind by following my objective rules and not always being "on the edge". I simply know that when something is not working, its just not working and its time to exit. This has allowed me to go in without fear or anxiety.
I really do have a sense of pride when I follow my plan and take the loss and move on. Not accepting losses was probably one of my biggest mistakes pre-coaching. Overcoming that is one of my greatest accomplishments after ACE Coaching and it has made my trading goals become more and more achievable.
Thanks BigTrends Team, Randy Redman"
Well put, Randy. Of course, in the long run the discipline and bigger size of your winning trades will make for net profits. But there will be losing trades along the way. The value of having a trading plan, systemized approach, and taking the emotion/pride out of a losing trade is evident from this email. The lessons and methods he has learned from BigTrends Education products are beneficial to him in both his trading and other business life ... and to life in general, I feel.
An example of someone who turned a major life "loss" into a life "gain":
Disclosure: No positions.