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We’ll share the report with today’s top Triple Income Strategy trades, break down the setups, discuss what’s moving markets and more [tap to join us for Market Masters]!
One of the most critical lessons I’ve learned in trading over the years is the importance of not “staying wrong” in my trades.
It’s not being wrong that costs you the big money — it’s staying wrong. This principle is one of my core tenets — a “Jeffry-ism,” if you will.
Imagine you’re in a trade, and you have a clear plan… “Here’s where I’m right, and this is where I could be wrong.”
The market, however, has its own agenda and might prove you wrong. If that happens, one of the worst things you can do is stay in the trade, hoping for a reversal.
Let’s say your trade starts going south. If you don’t close your position at your predetermined exit point, you’re effectively deciding to stay wrong. Worse, you might double down, thinking the market will turn in your favor and you’ll get back what you’ve already lost.
Before you know it, you’ve quadrupled your initial position, and the losses keep mounting… Now you’re really in trouble.
The smart move is to get out when the market proves you wrong. It’s a tough pill to swallow, but taking a small loss is far better than watching it grow into a massive one.
This approach isn’t just about avoiding losses… It’s about maintaining a disciplined trading strategy that prioritizes long-term success over short-term emotions.
I’ve seen traders blow up their accounts because they couldn’t accept the fact that they were wrong. They stayed in losing positions, hoping for a miracle. Trading isn’t about hope — it’s about making calculated decisions and respecting the market’s signals.
So, when the market tells you you’re wrong, don’t ignore it. Get out, reassess, and prepare for the next opportunity — there’s practically an infinite number of opportunities coming, so live to fight another day.
Remember, it’s not being wrong that will cost you most, but staying wrong. Always be sharp and never let your ego dictate your trading decisions. Have a trading plan, including an exit strategy, and stick to it.
You’ll be much better off and a much better trader in the long run.
Jeffry Turnmire
Jeffry Turnmire Trading
I host my Morning Monster livestream at 9:15 a.m. ET each weekday on YouTube, and then 30 Minutes of Awesome at 5 p.m. ET each Tuesday!
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Important Note: No one from the ProsperityPub team or Jeffry Turnmire Trading will ever message you directly on Telegram.
I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.
I’ve been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it’s the Eagle Scout in me.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. I’m Releasing My 5-Year Income Challenge LIVE on Saturday
I kicked off the plan last year and it’s been going exactly as planned. I doubled my trading account and now I went to show you how I plan to do the same this year.
Nate will be joining me LIVE at noon ET on Saturday, so if you want to see how I’m approaching this plan…
