“How to lose wisely” (from Day Trader, Nikkei BP Publishing)
"Chapter 9: Last words from the ultimate trader's"
"Lessons of life from my mother and lessons for traders"
This is a theme that I understand in my head, yet it has not fully sunk in yet,
and it is written at the very end of day trading,
and I feel the author has a personal investment in writing it.
“Loss does not necessarily bring poverty all the time. Sometimes defeat becomes victory. Far too many day traders do not understand this point. If a stop loss is executed and you take a loss of 1 dollar, and the stock drops by 2 dollars, that is not a defeat but a victory.It’s about losing wisely.”
Surely, this must be the truth of trading.
In The Pillow Book by Kamo no Chōmei, he says, “The three realms are but one mind.” All phenomena in this world exist solely by the mind, and are created by the mind... This is cited from Buddhism. All things and phenomena and joys and sorrows in this world depend entirely on one’s state of mind...
Even losses in trading can look completely different depending on one’s mindset.
With that in mind,
From now on, I will change my mindset in trading.
“I lost again... but I am grateful, grateful,”
I want to bow my head and give thanks. (laughs)
Until next time.
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