Why I'm REALLY Good at Taking Losses (and You Should Be Too)

[@TraderLion]

🔓Unlock the Secrets of Contrarian Trading with Jason Shapiro: traderlion.com/YT_DC Join us this Saturday (8/24/24) for an exclusive event with Jason Shapiro, a renowned market wizard, as he shares his proven strategies for successful contrarian trading.

[@RichardMoglen]

Best quote: "I don't predict markets any better than anybody else... if I'm a market wizard, what I feel I am better at than the vast majority of people is taking losses"

[@EMan-cu5zo]

Have you ever read the book The Best Loser Wins? Not a bad read.

[@TraderLion]

@@EMan-cu5zo I haven't yet, on my list

[@vishalnangare31]

Thanks Richard. Can you please suggest best book on this topic?🙏.

[@kalyankrishna19]

@@EMan-cu5zo thanks for recomm

[@dalibenyahia]

​@@TraderLion it would be great if you get Tom Hougaard for an interview

[@g2zeec]

After I learned how to take losses, that is, risk management, I learned how to take profits. You can't realize great profit percentages unless you learn how to lose less $. Facts!

[@TraderLion]

Focusing on cutting the downside allows you to profit from the upside

[@mehrdadmithra9591]

Taking small loss is an art mastered by successful traders. Would be nice if Mr Shapiro could show example of trade he made considering it as low risk and high reward.

[@TraderLion]

He's shared plenty in past interviews on our channel! Here's one: kzbin.info/www/bejne/pYq9kJ6rlq-Gr9E

[@ESM77]

The more I am learning about life itself is truly about how you handle losses , how fast you can bounce back and use the information about those losses to get better and grow.

[@TraderLion]

We all get knocked down. Can you use that information to avoid those mistakes, or at least dampen the severity when they happen? You got this!

[@tedpappas1559]

This is an excellent video. Thanks Jason and Richard for sharing your expertise. When I first started trading, for so many years I thought the best traders had secret inside information, until after reading several books and watching many interviews, I realized they don't. As Jason said, cutting losses and risk management is really the only holy grail in the market, and you better get used to taking small losses and feeling stupid.

[@TraderLion]

Our pleasure!

[@casanova1012]

always have the best interviews. Great job @traderlion

[@TraderLion]

Thanks!

[@mattinterweb]

The portfolio Jason is referring to is 'Master Trader' Gareth Soloway's. An 'Influencer' trader who makes more money from his subscribers than he does from his trading. Only interested in making money at your expense, rather than educating you and helping you succeed. The polar opposite of Jason and the Trader Lion guys.

[@JohnSina18]

I think you meant Beareth Soloway

[@mattinterweb]

​@@JohnSina18 That's the one.

[@TraderLion]

The real edge in trading is taking your losses quickly and consistently at the area you pre-defined.

[@coplain]

Thank you. I always wondered how some people I follow in twitter consistently make profits everyday .. while more than half of my trades end in loses … but I hold on to my loses in anticipation of turn around which hardly happened.. first lose is the best loss .. true that .. thanks

[@TraderLion]

There's no one who makes money every day. Traders go on hot and cold streaks but by sticking to your stops the cold streaks will make minor dents while the hot streaks will drastically improve your account performance.

[@coplain]

Thanks

[@HighPowerOptionsTrades]

What is this anticipation based on ?

[@corolla8861]

When the full video is gonna be unloaded?

[@TraderLion]

It's up already! Here you go: kzbin.info/www/bejne/n2eymKmcn7NkkKc

[@corolla8861]

@@TraderLion thanks. Got it

[@HedgeFundOfOne]

Have to be very good at taking losses as a contrarian, though the reward:risk can be huge.

[@TraderLion]

Or any style, it is the key

[@RipoffRadar]

The best channel

[@TraderLion]

Thanks!!

[@traderlope1164]

I’ve made all the mistakes every other trader has made but I’d say not taking my stop has been the one that’s hurt me more than the other type of mistakes. There was a season of trading where any one trade could’ve blown me up bc it was so bad. Glad I’m way past that bad habit

[@TraderLion]

Not sticking to your stops tends to pull you away from every other aspect of your trading plan. Worse than any other mistake.

[@volmanedge]

Not all 90% win rates are scams . most option selling strategies out of the money can achieve that. the thing is that 10% losses are huge , but if you know how to manage you can adjust your win rates based on r/r . win rate by itself is incomplete info.

[@TraderLion]

High win rates systems have low survival rate because of the outsized losses.

[@coplain]

Toughest part for me is to hold the profits .. I’m pro at holding loses 😂

[@TraderLion]

Set a tight and logical stop loss based on your studied setup and where it fails

[@profitpandits.]

Pls introduce your scanner for Indian markets , there's a huge audience waiting for it,

[@TraderLion]

Not sure if they share COT data in India. Something worth looking into!

[@RichardMoglen]

Golden Nugget

[@TraderLion]

Just gotta ⚒️ dig for it!

[@bt4dapeople]

Take short wins and long losses are the psychology of the average gambler. Win small lose big. If you want to be a successful trader you need to flip that script

[@TraderLion]

Exactly! It's tough to overcome, but needed to be successful.

[@КумысМамбетов-й8ш]

Yes , captain obvious … but the question is how ? What are the practical steps to overcome disposition effect ?

[@haneyguitarinstruction6260]

After listening to this he sounds just like me. 37% win rate with 3:1

[@TraderLion]

Keep compounding and you'll be a market wizard with those numbers!

[@ItsRandom-f8g]

What's your strategy? If you don't mind

[@RubiconV]

He definitely doesn’t sound like a market wizard. And zero details in his answers.