Review of "The Winning Mindset of Successful Traders"


 

1.  Prepare for / embrace risk - Accept losses.  Have plans before getting into positions.  Don't let emotions get in the way.

2.  Max losses will happen - Due to probability.

3.  Losing streaks will happen - Size trades appropriately.

4.  Ask, Can I accept max loss?

5.  Have the mindset of a "clerk" - stick with a plan.

Very nice video that lists not just attitudes successful traders should have, but also includes a checklist of questions that must be answered before entering a trade.

There is also a bit of cheerleading here.  Davis tries to let people know that losses will happen, even to him, so one should not be discouraged when they occur.

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