o You Want to Be Right or Make Money?

[Rey Nuevo]

Boris Schlossberg − "Do You Want to Be Right or Do You Want to Make Money?" That is a very common question that every trading guru likes to pose in order to "demonstrate" the need for risk control. But the more I trade the more I think that this is a very simplistic and conventional view of how the markets really work. The fact of the matter is that if you want to make money you need to be right. You have to take a point of view.

[Dab1493]

sure!!!!!!!!!!!!!!

[⭐ capsmart]

I think it has to do with stop loss. I you open a trade without stop loss and price goes against you 100,200,300 pips (depending on your system) as long as you did not close the trade and take the loss you are "still right". So I think that people prefer to keep a trade open instead of accepting they are wrong by closing it.