Whenever my team lost, the coach would tell us, “It’s not whether you win or lose, it’s how you play the game.” Over the years I’ve learned there’s truth to that statement but that, personally, I’d rather win. I’ve also learned the power of loss. My dad used to say, “What doesn’t kill you makes you stronger.” Good words to remember for a futures trader. It’s from the small losses that you learn how to win. (more…)

You’ve heard the maxim: A win is not always a win and a loss is not always a loss. It’s true in many aspects of life and particularly in futures trading. Making a profit does not always indicate a correct trade. Likewise, losing money does not always indicate a wrong trade. What is essential for futures traders to realize is that the inherent rightness or wrongness of your trading method can not be determined by the outcome of any one single trade. Those who incessantly tinker around with their system, trying to fine tune it to perfection after every trade, are doomed. Those who jump from system to system, searching for that elusive perfect system, are doomed. (more…)