“A losing trade is not necessarily a bad trade. A bad trade is when you did not follow your Trading Plan.

Follow your trading plan with patience and discipline, have proper risk management and the money will come to you. When I started, out I lost lot of money because all I wanted was more money. I was dreaming to get a luxury car, new house etc. but I did not have a proper trading plan, did not follow risk management nor had patience or discipline to wait for the right trade. Now I just want what the market wants and take the trades, as I see them. The key is to keep it simple and consistent and not jumping to 100 different ways to trade after few losses.

Invest your time and effort to acquire basic trading knowledge first. Success will not happen overnight it requires knowledge, practice, dedication and experience. Remember it’s a marathon not a sprint.

• If you don’t have a Trade Plan, you will lose

• If you have a Trade Plan, but you don’t follow it, you will lose

• If your ego is more powerful than your common sense, you will lose (Common sense is not so common)

• If you don’t know, why you are entering a trade and when you will get out and don’t have the discipline and patience, you will lose

• If you don’t use proper risk management, you will lose

• I hope above points makes sense to you otherwise, you will lose