Losing Money trading? Do THIS (Before it's too late)

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Also - as one of Lance first points alluded to: We are always even. We start each day at Zero. You cannot think of the losses as money you need to win back. Instead, you are even at zero and your goal is to make 1 solid trade today.

It's nice to hear other guys talk about this stuff at a high level. I had one of my best mornings ever today, then made a profoundly idiotic mistake that compounded the idiotic mistake. This video helped make me realize that I'm not crazy lol. To the winners and future winners out there, I salute you.

What a great value highlighting keeping the right mental perspective. Some key takeaways I had: -Stop digging a hole, log out. -Take 24hrs to deal with the emotions. -Keep perspective. Your worst day is someones best day. -Determine the causes, and develop solutuons. -Have incremental sizing rules up and down. -Find the easiest trades, find consistency on singles, then double down. -Focus on small steps having big results over time.

i am so alone in my trading world (especially on bad days) .. your videos give me much needed solace .. thank you.

Great advice. Thanks. Funny enough, I have 11 out 13 days in red for this month. So one week ago, I hired a psychologist, reduced my size... I wish I had "past successes" to rely on. But after 3 years, loosing 75% of my account, I'm really doubting I'll ever make it. Hopefully my pyschologist will make some miracles as the hole is really deep...

We are very fortunate to have Lance in our midst!

Definitely one of the best 20min clip one can find on Risk Management and Trader development. Thanks and good job Lance!

Took my biggest single day loss today. This video feels godsend! Thanks Lance for those valuable insights!

This video is fantastic! Thank you for your insight. I am battling this since January this year and feel like I made zero progress sometimes. I overworked on my set ups and strategies and ignored the psychology behind it. As a result, I cannot take a draw-down in a decent manner. Then I revenge trade and blow my account. It happened again!! I sometimes feel like there is no light at the end of the tunnel. But your video gave me hope. I really want to be a trader and need to learn to control and get out of the hole quickly.

extremely helpful, this is one of those 20min vids that you process for 2 hours

The best day is a day you were wrong, but admitted you were going against a trend because you observed the evidence before you, found a good exit and entered the trade the right way. ... But I prefer waking up with an oversize position that has a huge gap and go. The challenge is holding when you are supposed to, and cashing out when the trend changes. One is better for my development as a trader, the other makes a lot more.

You words and rules emanate like a blaring siren. Thank you for your insight. Every day is a process and involves true focus.

Your channel has truly changed my life. i've been studying and researching about crypto for a while now, do to the economy crisis and i got stuck at some point on the learning curve. now i can say I'm truly improving my understanding of this whole new world and making great profit weekly, all thanks to you

Great talk. I as a homeless appreciate your observation.

This year, my PnL Hole is so deep and wide that I have to sit in a specially-made chair now. The old one kept getting lost.

Fantastic video. I have been reading Trading Psychology 2.0 and created best practices for dark times very similar to this video. Seeing this gives me good concepts to bounce my current processes off. The last like 4 videos have all been home runs btw. Exponential risk sizing video proved to me that I was correct to reject the fixed risk sizing I was taught initially.

Thank you , u truly been there.😅

Thanks for sharing Lance.Great video as always 🔥

Really found this helpful and thanks so much for taking the time to put this together!