In a nutshell, it’s not so important to win “this hand” in poker, but rather to put together an approach (or strategy) that will win over time. Traders spend way too much time and energy in the outcome of single trades but instead should focus on executing trades that are under favorable terms where the setups are completely understood beforehand.
Any trade or series of trades could go against you but a solid strategy with a diligent approach to execution will make you money in the long run. Spend your time and mental energy focusing on your last 20 or 30 trades as a group not in your current trade or even your last 2 trades. (Video interview with Annie Duke after the jump)
*DISCLOSURE: No relevant position
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