timbo's 10 trading commandments, page-136

I agree completely Timbo, it is being prepared to cut your losses quickly that separates the good from the bad traders.

Yes it is not about the winners I find but how you manage the trades that don't follow a plan (or where you don't even have a plan for where the trade fails and how to exit!).

Working hard on this to have no lapses....old bad habits can be hard to break, but getting there. The really good traders I know are the ones that are like machines and trade without fear and with good position sizing strategy.

I use to think that because I pick 8 or 9 out of 10 winners, I was a gun trader in early days, but than my bank balance in GFC told me otherwise as was the 1 or 2 out of 10 failed trades that were not managed that meant I was in fact a bad trader. Not prepared to call myself a good trader until I have 100% consistency, progress made there but still way to go.