When at first you don’t succeed….

Try, Try, again.

It is important in trading to never get overly discouraged with consecutive losses or draw downs in equity, this is a normal part of the business. I once had a 50% draw down early in my trading career when I did not respect risk, but came back and quadrupled my capital over a few years of steady trading. I never quit. When the market is not favorable to your system you will lose, when it is favorable to your system you win. You have to stick with your system and give it a chance to win. The markets have a way of finally being willing to give you that big win right when you style drift into another system. Nothing is more sickening than to here that slot machine pay the person that sits down after you gave up dropping tokens in.

Stick with your proven system, control your risk, you will win big in the long term.

[My mentor] also taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money. -Bruce Kovner