"Learn to accept the things you cannot change" (from "Day Trading")

"What cannot be changed in trading is that you will incur losses." This is asserted.

I understand it, but it is difficult to accept with emotion.

“Lord, grant me the power to change what I can change with my own hands.

And grant me the calm to accept what I cannot change with my own hands.

And grant me the wisdom to discern the difference.”

I quoted the title of the chapter that begins with this prayer.

・Suffering losses

→ Trying to eliminate losses is a waste and wastes energy in vain.

→ Losses will never disappear forever.

→ It is important to become accustomed to the existence of losses.

・Control losses

→ Cut losses at a small loss stage.

→ Monitor within a range where losses can be controlled.

The closing is like this: “A talented trader stops focusing on avoiding losses and spends most of his time on controlling losses. For a trader who fully understands this point, miracles occur. Victory naturally follows.”

Very encouraging words, aren’t they?