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Handing Out $20s to Improve Your Stock Trades
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If you think about throwing away actual $20 bills every time your stock price goes down a tick you will think about trading differently.
I got this idea after reading "High Probability Trading" by Marcel Link. In the book he suggests that many traders think differently about losing money when they think in terms of losing money in their account. However, when they think about losing ACTUAL DOLLARS they act differently.
You might like trying out this trick to if you tend to make quick decisions that lead to losses. It might help you slow down and think more carefully before jumping into a trade. In any case, this is a purely hypothetical exercise as nobody actually expects you to hand out $20s!
However, the new mindset might actually help you approach trading with more care devoted to managing your money and avoiding losses.
This is provided for educational purposes.
This is not financial advice.
Thanks for watching!
I got this idea after reading "High Probability Trading" by Marcel Link. In the book he suggests that many traders think differently about losing money when they think in terms of losing money in their account. However, when they think about losing ACTUAL DOLLARS they act differently.
You might like trying out this trick to if you tend to make quick decisions that lead to losses. It might help you slow down and think more carefully before jumping into a trade. In any case, this is a purely hypothetical exercise as nobody actually expects you to hand out $20s!
However, the new mindset might actually help you approach trading with more care devoted to managing your money and avoiding losses.
This is provided for educational purposes.
This is not financial advice.
Thanks for watching!
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