Don't be a wimp

It's times like these that separate out people who beat the market and those who don't. Wimpy traders will be disheartened by several frustrating weeks and quit--possibly forever. They often jump to another strategy that continues to lose money and they grow even more frustrated. It's easy to do, but it is one of the worst things you can do.

The thoughts are difficult to stop. I know that over the long term, my strategy blows away the market. Even though I know that, these last few weeks have shaken my confidence a bit. We tend to have built-in biases that emphasize the downturns and obsess over losses. It's all part of trading, and the sooner you're able to handle a loss with the same emotions that you handle a gain the better off you'll be.

I've learned a ton during the last few weeks. Hopefully, I'll be able to use what I've learned and become a better trader in the future.