Adrian Reid advises traders on preventing catastrophic account losses by keeping every loss "insignificant." He emphasizes the psychological and practical need to accept and take losing trades, and to follow the system's exit signals promptly to avoid larger damage.
This is key to staying alive in the markets, to not destroying your account. You want every loss to be insignificant, because if it hurts when you have a losing trade, then it's going to be hard to take a losing trade. And as a trader, for us to be successful, we really need to be able to take losing trades. Because when the system tells us to get out, we have to get out. Otherwise, bad things happen. Ra.
