Keep your hands away from that falling knife!! (Black Monday)
August 23, 2015
1 Min Read
There's a lot of selling going on today in the markets and I think it's safe to say it's been pretty brutal.If you've been fortunate enough to profit from the swings in the currency market - I'm incredibly pleased for you.But if you haven't been on the right side of the markets, don't let it get you down. Take it on the chin and accept it as a lesson - take as many notes as you can about the experience and analyse them. Find out what you can do differently next time.As a trader, you'll sometimes have to go through those days where you experience a drawdown. It's up to you to make sure they reduce in the future, as a result of learning from the experience.If you're struggling today, take a step out of the market and sit on your hands! Sometimes it's better to just observe... As they say: "Don't try to catch a falling knife". You might just get your fingers cut off!If you've had a bad day, have a read of these articles (I've been there and done it too!!):
"There is nothing like losing all you have in the world for teaching you what not to do."
- Quote by Jesse Livermore, one of the greatest and most famous traders of all time.