Everybody wants to win, it's just part of human nature. Doesn’t matter if it’s sports, life, or trading. But you can’t avoid losing … especially in trading. It’s inevitable. Here’s how smart traders handle losses and learn how to move on.
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Losing may be a big part of trading, but it’s definitely not fun. Talking about it isn’t really that fun either. But losses are part of the game. If you think you’ll be the trader who wins 100% of the time, you’re doomed.
Going into a trade with the wrong mindset can hurt you. A potentially small loss can snowball into a loss that you can’t recover from.
So you have to be willing to be wrong … You have to be willing to be a ‘loser.’ It’s not setting yourself up for failure — it’s setting realistic expectations.
Some of the best day traders out there win 50%–70% of the time. And 70% is stellar, but it doesn’t happen fast. So if you’re a newer or even intermediate trader, it’s not realistic to think you’ll have a better win ratio than the best of the best.
The sooner you’re willing to accept being wrong, the closer you can get to finding consistency. Because you can’t succeed in this game while taking big losses. The math simply doesn’t add up.
I like to use the ‘rule of five.’
Let me break it down ... Let’s say you have a small account, and you lose $100 Monday through Thursday. You're down $400 on the week.
If you happen to make $500 on Friday, you're now green on the week. After you subtract commissions, you probably break even. But it's a mental exercise and thought experiment. That's a 20% win rate. You've now won one out of five times AND you're green on the week.
So remember that rule of five. Don’t hold and hope when your trade plan doesn’t pan out. Stick to that small loss. Be willing to lose and be wrong. That can help you find the path to smarter, better day trading.

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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.