How do you cope with a bad trading day?

reddragon

Member
73 2
Hi,
Being a novice trader means having quite a few bad days - but
no one said that the school of hard knocks was ever going to be easy !!!. You got to pick yourself up, disembowel your mistake to
find out where you went wrong, and carry on.
It's also a big help when an experienced trader relates their
bad experiences when starting out - thanks Rosso - your posting
the other day re: x number losing trades, was a tonic.
 

peedee

1
341 0
how you come to terms with a bad day may be dependant on the amount of losing runs youve had. Is it bad, very bad or really bad(im using the term bad as oppose to good by the way).
 

oatman

Senior member
2,879 22
peedee, when you've had a day, good or bad, maybe you can make a useful contribution to this thread. :rolleyes:
 

nomish

Junior member
42 0
i've been trading for almost a year, and i know im a small bee when it comes to others in this forum.

but my year has taken me from my first trade of lossing $500 where i almost went to the toilet and was sick and that feel in my stomach. as if i was shot.

if your get that feeling u bettter get over it cos u will get a stomach ulcer!

no one is going to feel happy when they make a loss. but only as time goes on and the more u trade will get u into the mental mindset of excepting what you have done wrong.

im glad my stomach doesnt turn anymore, but i do get very fustrated. i cant be around anyone, i admit this is something i need to get over.
 
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Rognvald

Established member
916 15
nom
1.don't minimise what you are - things are not always what they seem to be and you must learn to make judgements on what is said on internet boards.
2. everyone has bad trading days
3. everyone has losses - more especially at the beginning
4. Anger can be a useful emotion if kept under control and properly directed
5. Perhaps what you need to accept is that you still have to find out the right things. Do you analyze what happened each day i.e did you keep to your rules and if not why not - If you did why did you get the result you did?
 

nomish

Junior member
42 0
i agree with you. when i look back at any losing trades ive gone wrong because ive tried something new and entered an order spur of the moment.

Ive been good this month and i think im becoming to disiplin myself in that way.
 

adrianallen99

Established member
630 4
I only trade small amount, but I don't much like losing £10. But then again Im out of pocket over £250,000 because of someone elses mistake (Not through trading), so any loss pales into insignificance when I think of this.

When I lose money, it is more of an annoyance these days.

2 years ago I was earning a 6 figure salary, drove a Lexus and owned a large 4 bedroom house. 1 Year ago I was officially classed as homeless.

Getting back on track now, I dont have bad days trading - Only Good and not so good.
 

Dow Dog

Well-known member
409 0
Try and avoid bad trading days by adopting a strategy which provides a low reward : risk ratio ( say 1 : 1 ) and which gives a high hit rate in excess of 80%.

This what I do and it is good for the mind. I rarely have a bad trading day - it only happens when I lose my discipline and then I just kick myself and get back to plan.

BTW, I can't sleep tonight - one of those things - but definitely NOT because of a bad trading day on Friday.
 

jsd

Active member
232 3
Grubbs
if you are trading your plan and your planned stop is hit and assuming you entered to your plans rules then pat yourself on the back, reveiw if anything could be improved, if you entered with no plan and you loose or make money ask yourself. "Why the F*** did i do that?" or words to that effect that will put the question in bold type. look deep into yourself for the answer. scribble notes while you trade, track your emotions, your belief system, therefore YOU mentally, are being too rigid with the fluid environment, learn to flex as the market does. attitudes about your feelings to money itself, sense of work ethics, your EGO all play a part in people putting on trades, not closing them etc..

ive no doubt that trading presents the opportunity for people to look at themselves, like they've never looked before.

The short version for me is, spending time in the garden with the dog,chickens,veggie plot.

above all dont panic, dont beat yourself up, it takes time to learn. have you read the disciplined trader ?

I keep banging on about this book, but it enables you to obtain understanding about the most important aspect in trading, that being YOUR BEHAVIOUR. YOUR BELIEFS. in fact its a good read for anyone trading or not.

jd.
 

jsd

Active member
232 3
this forum is excellent for people who are Exposed to trading it enables real individuals to communicate with others about real emotions, personally none of my friends,family previous work colleagues are interested/ or drawn to trading (lucky sods) because for me the beginning was painful emotionally some 7 years back now, looking at it it would of been helpful if i could of talked to someone to share perhaps the common feeling of pain that a person will likely experience, Isolation its called and it can be an issue , should be less so now the internet medium is probably becomming the best? medium to access deep level conversation, providing people are honest. over time I stopped looking outside and focused on the inside, whats driving me to do the things i do etc.
I dont have a trading mentor but would of loved to have one when starting out. (non paid, master to student type mentor)
trading is an illusion , the greatest on the planet, an amazing magical trick , but to perform that simple trick I personally beleive we have to become great magicians, that takes time, years, to then be able to execute the perfect trick of trading.
I could discuss trading forever probably.... its a funny old game....ramble ramble....
 

bottomdollar

Active member
217 1
I go red in the face and erupt like a volcano and put my foot through the screen!!! HAHAHA! Just kidding!
When I started trading for the first time I used to feel angry when I lost the market.. I'd blame the market and then think of what I could have bought with the money I'd lost! This would just antagonise me more and in the end I found that I then started closing in on small gains (for fear of losing.. so you just grab small amounts). However, it's about cutting short your losses and letting your winners run as I'd found out after still consistently losing.. (which would just annoy me more).
Anyway, to cut a long story short.. to be able to put on large positions and wider stops you need confidence (else you just crap yourself when you lose)... I've got a little confidence so I just take my losses and think nothing of it.. however, I still find that I can get a bit down if I have a string of losers and/or a big loss.. but these days.. if I'm cautious I can usually prevent that from happening!
 
 
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