{"id":3242,"date":"2021-03-16T08:06:32","date_gmt":"2021-03-16T15:06:32","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=3242"},"modified":"2021-03-23T20:03:26","modified_gmt":"2021-03-24T03:03:26","slug":"episode-191-the-psychology-of-losing-trades","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/episode-191-the-psychology-of-losing-trades\/","title":{"rendered":"Episode 191: Kim Coaches Stephen Again: The Psychology of Losing Trades"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm?e=STT2242898363\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">Today host Kim Ann Curtin takes another look at the motivations behind Stephen Johnson\u2019s losing trades. After a big winning streak, another side of him took over.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Everyone places losing trades at some point. It\u2019s an inevitable part of the game. But is there something in us that seeks to make them worse?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today\u2019s episode takes a deeper look at the psychology behind losing trades. Why do we get in our own way when things are going well?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Find out on this week\u2019s SteadyTrade podcast.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">We Hate Losing Trades &#8230; or Do We?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Everyone wants to win. We want freedom, tendies, and <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-189-the-buy-side-with-turney-duff\/\"><span style=\"font-weight: 400;\">bragging rights<\/span><\/a><span style=\"font-weight: 400;\">. But is that all we really want out of life?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In an industry where everyone\u2019s quick to post their gains and stay silent on their losses, it can seem like winning is all we need.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So is it possible to stay at our best when we\u2019re on a winning streak? After all, overconfidence can get the best of us. Especially when tickers start printing money like crazy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The human brain is wired to <\/span><a href=\"https:\/\/www.steadytrade.com\/winning-traders-share-tips-and-tricks\/\"><span style=\"font-weight: 400;\">get used to things<\/span><\/a><span style=\"font-weight: 400;\">. So if you\u2019ve been on a roll, it\u2019s good to check your mindset. Are you still in the zone that got you started on your winning streak? It\u2019s smart to evaluate if something else has taken over\u2026<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen shares a recent trade that nearly blew up his account. He\u2019s especially disappointed because he\u2019s been there before. So he knew what he was doing but just couldn\u2019t stop himself!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen studied the trade and saw that it didn\u2019t fit his trading checklist. In fact, he could tell it would go against him, but he still took it anyway.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s human to make mistakes \u2014 and to even make them on purpose.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But if we know better, why don\u2019t we always do better? Why isn\u2019t knowing enough to make us stop losing trades?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s possible there\u2019s something we want <\/span><a href=\"https:\/\/www.steadytrade.com\/twist-finding-focus\/\"><span style=\"font-weight: 400;\">more than winning<\/span><\/a><span style=\"font-weight: 400;\"> &#8230; Or that we\u2019re so afraid of losing we do it on purpose to prove we can get past it. There\u2019s plenty of trading psychology to dig into in this episode.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Loss Is Temporary<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When we\u2019re winning, it feels amazing, and <\/span><a href=\"https:\/\/www.steadytrade.com\/kim-ann-curtin-makes-her-first-trade-lessons-for-newbie-traders\/\"><span style=\"font-weight: 400;\">we want it to last forever<\/span><\/a><span style=\"font-weight: 400;\">. No one wants to experience the setback of losing trades ever again.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But we can still learn from our losses&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When a feeling is fresh and compelling, our brain imagines it will last forever. If it\u2019s a <\/span><a href=\"https:\/\/www.steadytrade.com\/twist-market-insanity-continues-rapid-fire-session\/\"><span style=\"font-weight: 400;\">good feeling<\/span><\/a><span style=\"font-weight: 400;\">, we\u2019re happy with that idea. If it\u2019s a bad feeling, we\u2019re afraid of it\u2026<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We start to wonder if there\u2019s something wrong with us. What if we keep losing? It\u2019s important to remember that every experience is temporary. Winning is temporary \u2014 and so is losing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When it comes to trading, winning means <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-167-hard-trading-truths-with-dr-daniel-crosby\/\"><span style=\"font-weight: 400;\">staying in the game<\/span><\/a><span style=\"font-weight: 400;\">. That doesn\u2019t mean bag holding your losing trades and making them worse. That means cutting your losses quickly, with enough money left in the pot to trade another day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s the same thing with our personal lives. Kim shares a vulnerable story about her crush on a longtime friend. Her crush was too big to ignore, but she didn\u2019t want to tell him about it. She was scared to feel the pain of rejection.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then a friend gave her some wise advice about resilience\u2026<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The new perspective was just the motivation she needed to stop pining and take a chance. And this lesson absolutely applies to trading.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Can You Gain From Losing Trades?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many traders feel ashamed of their losses. A loss feels like rejection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But is it possible to <\/span><a href=\"https:\/\/www.steadytrade.com\/twist-special-guest-jack-daniel\/\"><span style=\"font-weight: 400;\">gain something from a loss<\/span><\/a><span style=\"font-weight: 400;\">?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After all, everyone loses at some point. So could you feel a sense of connection when you have a similar experience as someone else? Even if that person\u2019s halfway across the world and you connect online?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim and Stephen discover some surprising truths about staying connected during stay-at-home orders. Tune in to hear how they\u2019ve impacted his trading game.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s not enough to know the right technicals, the right strategies, and the right stocks in play. You have to know why you\u2019re in the game in the first place.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That will keep changing <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-145-book-club-the-inner-voice-of-trading-michael-martin\/\"><span style=\"font-weight: 400;\">the longer you trade<\/span><\/a><span style=\"font-weight: 400;\">. Turns out you can\u2019t ignore your emotions. They\u2019re a big part of your ongoing trading journey.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The better you know yourself, the more decisive you\u2019ll become.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To take the trade \u2026 or not to take the trade? That is the question.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The answer depends on you. When you understand what you want from the trade, you\u2019ll gain something better than a win or a loss \u2014 resilience and potential freedom.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Isn\u2019t that what every trader wants?\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Think?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Is there a pattern behind your losing trades? What inspires you to stay committed to trading? We\u2019d love to hear what you think, so drop a comment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember: if we select your question or comment as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on <\/span><a href=\"https:\/\/www.youtube.com\/user\/stockstotrade\"><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\">!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.<\/span><\/p>\n<p><b>Into this episode? Please leave a review on <\/b><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\"><b>iTunes<\/b><\/a><b>.<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Meet Our Hosts<\/span><\/h3>\n<p><a href=\"https:\/\/www.steadytrade.com\/about\/\"><span style=\"font-weight: 400;\">Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin here.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Follow our hosts on social media&#8230;<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Tim Bohen<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/tbohen\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/tbohen\/\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<h4><span style=\"font-weight: 400;\">Stephen Johnson<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/Jonk87\"><span style=\"font-weight: 400;\">@Jonk87<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/stephenjonk87\/?hl=en\"><span style=\"font-weight: 400;\">@stephenjonk87<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today host Kim Ann Curtin takes another look at the motivations behind Stephen Johnson\u2019s losing trades. After a big winning streak, another side of him took over. Everyone places losing trades at some point. It\u2019s an inevitable part of the game. But is there something in us that seeks to make them worse?\u00a0 Today\u2019s episode [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":3243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[3],"tags":[30,19,18],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Episode 191: Kim Coaches Stephen Again: The Psychology of Losing Trades - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Today\u2019s episode takes a deeper look at the psychology behind losing trades. 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