Think about the last loss you wanted back.
You remember the trade. You probably remember the exact number. What most traders do not remember is the two seconds before the click, when they had the size box open and typed in more than the plan allowed, because the setup was clean and the last loss needed to be made up.
If you could reopen that order window right now, what would you change? Almost nobody says the entry. Almost everybody says the size, or the stop, or the fact that they never decided what a loss would cost before they took it.
That decision deserves your full attention while the money is still in your account. It is easy to put off studying risk when there is another chart to check, and easiest of all when you are certain the next trade will make up for the last one. That certainty is the exact condition under which accounts get emptied.
Every trader has an edge on some setups. Very few traders have a rule for what they are allowed to lose. The second one is what keeps the first one alive.
I have been teaching traders at TexasWest Capital since 2017, through every bull and bear market since. The people who are still trading years later are rarely the ones who called the most tops. They are the ones who never took the loss that ended the account. This workshop is how I make sure I am one of them.
