It's easy to lose your perspective when it is just numbers on a computer screen. Trading is not like playing Space Invaders. In other words, a successful trading plan can be heaven. You start out the next week trading for profits, and your initial profits will go back to rebuilding your account. In addition to your weekly check, it is important to adapt the mental attitude of a successful trader.
Successful traders preserve their capital and produce profits, in that order.
Much of our trading philosophy revolves around these two principles. For example, successful trading is not sitting at the blackjack tables at the Mandalay Bay in Las Vegas, though many people approach the stock market in the same fashion. We talk about how to make money in our other tutorials on this site. We think it is equally important to focus on the top ways traders lose money. For your own financial health and well being, it is important to know and recognize these situations.