Successful trading is difficult and frustrating. You are the most important element in the success equation. The basic substance of price change is human emotion. Panic, fear, greed, insecurity, anxiety, stress, and uncertainty are the primary sources of short term price change. Avoid allowing a big winning trade to turn into a loser.
Successful trading requires four things.
Knowledge, disciplined courage, money, and the energy to merge the first 3 properly. Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity. The key to successful trading is in knowing yourself and in knowing your stress point. Since there is always the possibility of surprise in thin, dead markets, less capital should be risked there than in markets which are broad and moving.