Stock Trading Insight: Losses Are a Business Expense. We Win Some, We Lose Some, We Bounce Back
Pete Renzulli discusses the significance of why it's important to keep in mind that when taking a trade, you could lose on the trade. You hired yourself to manage your money, we chock up our loses as a business expense. We bounce back, go to our next trade and continue forward.

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I first want to go over the stocks cuz it's really important. So I'm gonna show you rotation. I'm gonna show you the sectors that I'm paying attention to now this week, and some individual stocks. And that one swing trade that I'm looking at to start this week out. One thing that I wanna get across here though, which is a really big part of trading and something that I teach from day one, if you don't know, I had a trading floor in New York City.

I had 300 people trading my capital. The very first thing that I teach. Out of the gate. Okay. Aside from the fact that you're running, you're now a trading business. You hired yourself to manage money, right? The very first thing that you need to understand is you are going to have trading losses.

A trading loss is a business expense, so when you get over yourself and you're a desire to believe that you are never going to have a losing trade and get back into reality and realize that it's okay to have a losing trade, as long as it was a good. You take all that negative pressure off of, oh, that trade lost money.

Therefore I need to do something different. Therefore I need a new strategy, therefore, I stink. Like all those negative things that go through our head, get over it right now. Okay? So whatever trade you're thinking about this week, whatever trade you made this week, the very first thing you need to ask yourself after you get out of that trade, whether it made money or didn't make.

Was it a good idea? And would I take it again? So the very definition of an edge is most of the time it follows through. Sometimes it doesn't. And I keep repeating that and hopefully you've been a big part of our YouTube family here. And if you haven't, please do me a favor. If we're providing value, do me a favor, subscribe and hit that, that like button.

I really appreciate it. Sometimes it follows through. , which also means sometimes it doesn't. So if we can literally define that's what it means to to have an edge. And again, what is an edge? An edge is the reason we choose to accept risk. An edge is something that we're looking at on the charts or an earnings or wherever you're getting your new, your decision from.

The catalyst to get in. It's a reason we expect follow through. Now, even the best ideas, some of them will get follow through, some of them won't. But here's the thing, and this is the big part of the lesson that we wanna get across today, and something you ought to know, need to know and use to apply is that even when it's obvious, some trades don't follow through.

The challenge for a lot of traders is not so much once you get to the point where you're taking your losses, you're getting out of those trades and you're understanding. Your losses is a monster part of getting profitable. The other side is what we talked about before. There's two weeks at the beginning of January when more was on the table, you needed to make more.

You need some sort of system that helps you to learn how to hold the winning trades longer, provided you can find good trades in the first place, which we're about to talk about in a second. In our community, we call that the profit maximizer. Now the last thing I wanna leave you with on. We all know trading discipline, right?

Everybody, be disciplined. And most people think about that on your stop loss. And you leave the other side of the trade completely alone and you don't have that same focus on the other side of the trade.

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