Do You Want to be Right? Or Do You Want to Make Money? - Trader Behavior

Posted by TopstepTrader on September 23, 2017

Do you want to be right? Or do you want to make money? That seems like a question with an obvious answer - but it's not when you dig into it. So many times when we are trading futures, we hold onto losing positions hoping for the market to take them in the right direction. But hope isn't a trading strategy - and oftentimes it's antithetical to making money. 

As trading veterans, TopstepTrader's Michael Patak and John Hoagland know all too well how sometimes they turn away from their trading strategy in order to be right. And it costs them. In this week's Trader Behavior video, Michael and John dig through these feelings and get to the bottom of how we can profit from controling our need to be right. 

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Topics: Market Updates, Trader Behavior