The Market Owes You Nothing

It's a harsh reality that traders - especially newer ones - need to accept. Just because you've had five losing trades in a row doesn't affect the outcome of the next one. Placing a stop at a level you 𝘣𝘦𝘭𝘪𝘦𝘷𝘦 won't get breached doesn't mean the market cares.

I've sat and watched the price inch closer and closer to a sell-stop, willing buyers to step in and push it away from danger. And sometimes it does...only to crash through my stop moments later.

Being emotionless about trades - both winners and losers - is tough, but it's necessary.

The volatility we've seen over the last couple of years should reinforce this reality: even the most meticulously crafted trades, backed by perfect research, can be undone by one unexpected news release.

Hedging and risk management aren't just technical skills, they're survival tools. In both speculative and physical trading, understanding them is what allows companies to thrive long-term, not hoping that "this trade is the one" or believing you've figured the market out.

How do you stay disciplined when the market tests you?