How do you handle losses or losing streaks?

[Samy32]

I stop and take time out. I seek advice from trading colleagues on where I went wrong and how I can improve. I look for new and more advanced strategies to implement in my plan.

How do you handle losses or losing streaks?

I think as you get more and more experienced, gradually you become more used to the fact that there are and always will be trades that are losers...

I think a good way to act always before entering a trade is to hope for the best results, but to be prepared for the worst thing to happen :cheesy:

 

[FringFX]

I stop and take time out. I seek advice from trading colleagues on where I went wrong and how I can improve. I look for new and more advanced strategies to implement in my plan.

How do you handle losses or losing streaks?

I also stop and assess the situation.

I also check if I am sleepy, feeling angry, aggressive, feeling hungry , etc. These issues can sometimes affect the trading session.

 

[Jack Francisco]

Exactly

Thanks to all for sharing your views.
I think that apart from emotions, fear, etc, - when it comes to forex trading-
Discipline of mind is the key to successful operation.

To be a successful investor or trader, must be strictly laid down their own "discipline" rather than be with nature

 

[angelnish]

Discipline of mind is the key to successful operation.

To be a successful investor or trader, must be strictly laid down their own "discipline" rather than be with nature

Yes, I fully agree. This is the key of a successful trader.

 

[Patricia12]

I stop trading after continue lose. Try to find out the reason behind it and then avoid that and again start trading.

 

[Just4Fun]

I know someone who smashes his keyboard when afflicted by losing trades. He then goes and buys a new one. It seems to do the trick, probably because having got it out of his system, his confidence is restored.

 

[FringFX]

I know someone who smashes his keyboard when afflicted by losing trades. He then goes and buys a new one. It seems to do the trick, probably because having got it out of his system, his confidence is restored.

for real? that's too destructive a way to blow off steam. seems like trading is not for that guy.
...and too expensive too tell him to buy the most expensive keyboard

 

[Just4Fun]

for real? that's too destructive a way to blow off steam. seems like trading is not for that guy.
...and too expensive too tell him to buy the most expensive keyboard

Yeah...for sure....there''s another one I heard of in a prop shop in the USA who was fired for punching his fist right through a monitor...twice.

He was someone who was very volatile but supposedly talented.

There is so much the average guy can take, I suppose.

 

[mingbao]

Yeah...for sure....there''s another one I heard of in a prop shop in the USA who was fired for punching his fist right through a monitor...twice.

He was someone who was very volatile but supposedly talented.

There is so much the average guy can take, I suppose.

Really it does like that for many normal traders, they treat forex trading like gambling. No analysis on the successes or failures, so only good or bad lucks.

 

[Just4Fun]

Really it does like that for many normal traders, they treat forex trading like gambling. No analysis on the successes or failures, so only good or bad lucks.

Well, its not normal behaviour is it ?
Trading is not competitive like sport but it contains the elements of a game.
Then it is not normal behaviour to become out of control if you think of trading as a you would a game of tiddlywinks or even snakes and ladders.
Yet, it serves to push some people over the edge.
I don't quite understand it. It seems to me it has the potential to bring out the worst in humanity instead of the best.

 

[Silent Trader]

How? With dignity.



Losing is the cost of doing business. Limit losses by ALWAYS using stop-losses and that way you can psychologically absorb the reality when it happens. You know it's possible to lose as much as you've risked, so don't risk more than you can comfortably lose.

That's right, you *can* comfortably lose *some*. It's your decision how much that is.

Discipline will help you accept that it's okay you didn't squeeze out the last few pips in a run, or you didn't enter a trade too early/late. Nobody wins 100% of the time and in fact it might be said every trade has a winner and loser - so just accept that part of the time it'll be your turn in the barrel....

ST

 

[angelnish]

Discipline will help you accept that it's okay you didn't squeeze out the last few pips in a run, or you didn't enter a trade too early/late. Nobody wins 100% of the time and in fact it might be said every trade has a winner and loser - so just accept that part of the time it'll be your turn in the barrel....

Yes, Discipline......

Trading is a craft that demands a certain level of discipline. Not only do you have to stick to a set of trading rules, you also have to be able to keep your eyes on the prize at all times. This is what seasoned traders refer to as self-discipline.

Here's some points on how to develop self-discipline in trading:
1. Keep the end in mind.
The first step into becoming a more disciplined trader is to set a clear-cut goal.

2. Direct your attention to what needs to be done.
After coming up with a clear goal, you are immediately a step closer to becoming more disciplined

3. Drive the negative vibes away.
So having formulated your goal and taking the necessary steps to achieving them, start to monitor your progress. Remember that it's easy to get lost in the motions of the market. This is why it's important for you to have something to hold on to such as your stats in times when minor setbacks force you to doubt yourself.

 

[Just4Fun]

Yes, Discipline......

Trading is a craft that demands a certain level of discipline. Not only do you have to stick to a set of trading rules, you also have to be able to keep your eyes on the prize at all times. This is what seasoned traders refer to as self-discipline.

Here's some points on how to develop self-discipline in trading:
1. Keep the end in mind.
The first step into becoming a more disciplined trader is to set a clear-cut goal.

2. Direct your attention to what needs to be done.
After coming up with a clear goal, you are immediately a step closer to becoming more disciplined

3. Drive the negative vibes away.
So having formulated your goal and taking the necessary steps to achieving them, start to monitor your progress. Remember that it's easy to get lost in the motions of the market. This is why it's important for you to have something to hold on to such as your stats in times when minor setbacks force you to doubt yourself.

Yes, and above everything always remain calm.

 

[belekas]

Doesn't matter if it's a win or a loss I feel sad. Why? Because I could have won more or lost less. It's always the same for me. In the past, when I had a ls (losing streak), decreasing position size helped me. With years we get better, it gets more natural and there's no more need for that. We traders are like fine wine- we get better and better with time...)

 

[Just4Fun]

Doesn't matter if it's a win or a loss I feel sad. Why? Because I could have won more or lost less. It's always the same for me. In the past, when I had a ls (losing streak), decreasing position size helped me. With years we get better, it gets more natural and there's no more need for that. We traders are like fine wine- we get better and better with time...)

Well, it doesn't matter to me at all.
To me its just a game, like tiddlywinks or snakes and ladders, only that there are prizes. I don't get emotional about the prizes, I just play the game.

 

[belekas]

Well, it doesn't matter to me at all.
To me its just a game, like tiddlywinks or snakes and ladders, only that there are prizes. I don't get emotional about the prizes, I just play the game.

Guess your nickname sums it all up then eh: )

 

[angelnish]

Guess your nickname sums it all up then eh: )

I second this
Fully agree with you belekas

 

[belekas]

I second this
Fully agree with you belekas

 

[fibo777]

I stop and take time out. I seek advice from trading colleagues on where I went wrong and how I can improve. I look for new and more advanced strategies to implement in my plan.

How do you handle losses or losing streaks?

I wait for other opportunities. Never try to recoup my losses. Opportunities do come and my losses are covered.

 

[Just4Fun]

Guess your nickname sums it all up then eh: )

Yep.

You think I'm kidding, don't you ?:cheesy: