Both opportunities and perils surface suddenly in the market. It takes swift, resolute action to exploit one and elude the other. Nothing can unravel a trader’s courage more than a huge loss in a stock trade. It wasn’t until I suffered enough big losses that I made the decision that turned my performance from mediocre to stellar: I decided it was time to make money and stop stressing about my ego. I began selling off losing stocks quickly, which meant taking small losses but preserving the lion’s share of my hard-earned capital. Almost overnight, I regained a feeling of control.
