「If you are not prepared to lose, you cannot make money. It’s like simply taking a breath and not letting it out」（from "The Psychologies of Magicians"）

From the words written about trailing stops.

“If you are not prepared to lose, you cannot make money. It’s like breathing in without exhaling.”

When taking profits with a trailing stop, you inevitably end up closing the position with a bit of profit left behind. It’s like, if you had taken profits just now, you could have taken another 20 pips.

The above words teach the mindset for trailing stop discipline.

Trailing stop closes tend to make you feel like you’re losing, but

they warn against that.

“You need a strong mind to execute a position close without being swayed by the feeling of unrealized gains and the feeling of loss when unrealized gains decrease.”

It goes against the usual psychology of people!!!.

That’s why succeeding in trading is difficult.. (lol)

See you next time.