handling losing sequence

[oildaytrader]

Hi

In a market where 95 % are losers, how do u handle a losing streak?

After a few losses ,do you stop trading ?

Do you go back to the drawing board?

How do u handle the emotions of losing?

Will you have the confidence to go back and restart trading?

How do u restore confidence?

What gives you the confidence?It could be something like simulated results.

If you can not handle losing , do u think about becoming a mentor,signal seller ,I B etc ?

You cash balance has gone down , there is no wage packet , how to pay the bills?

I trade automated , so I do not have these emotions and problems ,I have software related problems.

O D T

 

[Black Swan]

Hi

In a market where 95 % are losers, how do u handle a losing streak?

After a few losses ,do you stop trading ?

Do you go back to the drawing board?

How do u handle the emotions of losing?

Will you have the confidence to go back and restart trading?

How do u restore confidence?

What gives you the confidence?It could be something like simulated results.

If you can not handle losing , do u think about becoming a mentor,signal seller ,I B etc ?

You cash balance has gone down , there is no wage packet , how to pay the bills?

I trade automated , so I do not have these emotions and problems ,I have software related problems.

O D T

With respect should this not be in the newbie section? For example, 3 straight losses on cable trades - losing perhaps 70 pips, should never happen to me (NOW), but if it did ...so what? Follow your set up/plan/edge and it'll come around....

 

[tomorton]

Hi

In a market where 95 % are losers, how do u handle a losing streak?

After a few losses ,do you stop trading ?
No - if the system is statistically reliable, so that the losing streak is just an aberration, continuing tradng will right the situation given enough time (trades). For example, if you get 20 straight heads when you toss a coin hoping for tails, stopping tosing the coin today will not increase your odds of success if you resume tomorrow.

Do you go back to the drawing board?
Depends on how bad the losers were and why they were not winners, its not black and white. However, better is your backtesting and paper trading shows the inherent flaws in your system in advance so you can build in a safeguard.

How do u handle the emotions of losing?
Laborious backtesting and paper trading builds confidence in the refined system. The longer you can stay in then game, the more certain it is youm will be a winner, and the losses are just the overheads or tuition fees.

Will you have the confidence to go back and restart trading?
I have re-started again and again. As long as you don't have to re-finance every time, just keep on.

How do u restore confidence?
Trade, study, refine system, trade some more, and so on.

What gives you the confidence?It could be something like simulated results.
Exactly.

If you can not handle losing , do u think about becoming a mentor,signal seller ,I B etc ?
Yes, but only if I was broke (which would not arise even from very poor trading I can assure you): then I would sell my TA knowledge and a few simple systems.

You cash balance has gone down , there is no wage packet , how to pay the bills?
Firstly, only put at risk money you can afford to lose. If you are under-capitalised, get a job, do anything, go anywhere in the world, but don't borrow or over-leverage

I trade automated , so I do not have these emotions and problems ,I have software related problems.
Everybody has 'friction' losses from whatever system they use. Make sure your money management rules and stops will cope with anything - planes can occasionally fly into buildings.

O D T

The only way to lose the game is to get knocked out. If you can stay in the game you will win it.

 

[Black Swan]

The only way to lose the game is to get knocked out. If you can stay in the game you will win it.

Tom, it might be worth you editing your post to highlight (perhaps in colour) your full response.

 

[oildaytrader]

The only way to lose the game is to get knocked out. If you can stay in the game you will win it.

Great response

Thanks

O D T

 

[everyonerich]

The only way to lose the game is to get knocked out. If you can stay in the game you will win it.

same advice or copy cat?

http://www.trade2win.com/boards/gen...needed-investmest-good-system.html#post877116


heres another one for sharing :

It is important that you understand that there are no certainties in this market. That means get rid of the mind-set: "I am going to enter the market when I AM SURE it will go up or down." You cant be sure. If you are your mindset is false. One directional trading is intimately related to the concept of timing, in this case not worrying too much about timing the market. One direction takes the sting out of the worry, its what gives you the discipline and the patience to have the time to allow the odds to do their profitable work for you.

 

[Trader333]

If you can not handle losing , do u think about becoming a mentor,signal seller ,I B etc ?

LOL very good


Paul

 

[oildaytrader]

LOL very good

If you can not handle losing , do u think about becoming a mentor,signal seller ,I B etc ?

Paul

I personally can't handle losing on manual trades,after 3 losing trades my itchy finger becomes hesitant, so I just let the computer suffer the emotions and let it trade automatically for me.

O D T