Most times as traders we feels like stopping for a short while is giving up, no it's not, because he who fights and run lives to fight another day, trying to force things when it's not showing any sign of working will only result in more losses.
Their are times you need to take a break from the market, it might be a day, a week or even two weeks interval, and those times when you needs to are;
- When you are now making emotional decisions: or I will say when your losses is now getting to you. Trading when in an emotional state is the fastest way to get wreck as a trader, because you will be reacting to every movement of the market, which is not the best way to make money from the market.
- When you experience a very big loss: As a trader, anytime you experience a big loss, it's best to stay off for a while, because if you engage then, then it would be revenge trading you are trying to do, and i bet you that you will loss even more.
-When the market has been unfriendly or don't have a clear direction: This one is very common even among experience traders, the market has been unfriendly and their is no clear set up to take a trade that week, instead of them to take a break during those period, they will want to force things and by doing so, losses is inevitable.
- When you don't have money to trade: Though it sounds stupid but their are traders that will go ahead to borrow money just to trade because they don't have cash to trade, and it smells addiction if anyone decides to take that route, so it is best that you trade with your own funds, not just that, with a money you can afford to lose, in other to make informed decisions.
Most times as traders we feels like stopping for a short while is giving up, no it's not, because he who fights and run lives to fight another day, trying to force things when it's not showing any sign of working will only result in more losses.
Their are times you need to take a break from the market, it might be a day, a week or even two weeks interval, and those times when you needs to are;
- When you are now making emotional decisions: or I will say when your losses is now getting to you. Trading when in an emotional state is the fastest way to get wreck as a trader, because you will be reacting to every movement of the market, which is not the best way to make money from the market.
- When you experience a very big loss: As a trader, anytime you experience a big loss, it's best to stay off for a while, because if you engage then, then it would be revenge trading you are trying to do, and i bet you that you will loss even more.
-When the market has been unfriendly or don't have a clear direction: This one is very common even among experience traders, the market has been unfriendly and their is no clear set up to take a trade that week, instead of them to take a break during those period, they will want to force things and by doing so, losses is inevitable.
- When you don't have money to trade: Though it sounds stupid but their are traders that will go ahead to borrow money just to trade because they don't have cash to trade, and it smells addiction if anyone decides to take that route, so it is best that you trade with your own funds, not just that, with a money you can afford to lose, in other to make informed decisions.
A real traders don't quit so easily, rather they becomes consistent and calculating in the line of businesses to divert and engage in : in other to experience a continuous profit making on daily, weakly and monthly basis and as a business magnate you should always subscribe in your mind that their is always an inflation in the price of goods and services which may either increment and decreases your profit making, which is while their should be stability in a business man/woman to understand the reasons for his failures and losses in business than quiting do to fear of loss which isn't encouraging at but should try to study and understand the secret of the business you venture into; the reasons why we fail wolfly In business is because we don't make enquiry and are not equipped in a particular business we want to engage in that leads to our losses, for example selling a consumable goods on a distance bad road may affect the demand of such goods and services and may easily expires .as a business man you should have a quality of determination , solutions finding , zealousness, etc to avoid quiting and loss. Moreover as a business man, you should always set aside a little money outside your capital for replacement interms of financial losses in business than quiting which may affect you. Conclusively every businesses has a challenges but I urge you to be consistent and find a secret of the business you are into which is a key to your successful business.
