meanreversion
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Oh my. Please note that "losing" is spelt with one "o", not two.
I lose money, my trousers are loose.
I see this mistake far too much.. come on, it's not difficult...!!
I lose money, my trousers are loose.
I see this mistake far too much.. come on, it's not difficult...!!
Thanks Meanreversion.
Maybe that's why I feel uncomfortable with losing - I can't even spell it properly.
PS Too late now - I don't know how to edit the thread name. It would be nice if somebody can correct it (who knows how to do it), otherwise mistake would be repeated by other illiterate members on and on.
shadowninja
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Well, it depends on the losses. Are we talking about acceptable losses or account-crippling losses? If the former, then just accept that it's part of trading. If the latter then you're doing something wrong.
wackypete2
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wackypete2
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ok, more serious...
You just have to get past it. Turn your computer off and do something to keep your mind off of it. Losing days happen. If you know you can make it back tomorrow or the next day then don't let it bother you...yes I know, easier said than done.
Peter
You just have to get past it. Turn your computer off and do something to keep your mind off of it. Losing days happen. If you know you can make it back tomorrow or the next day then don't let it bother you...yes I know, easier said than done.
Peter
Ninja, this week I had 2 losing and 3 winning days. It's usually like that - week after week.
So I guess it's (unpleasant) inevitable part of my trading.
Losing day is limited to 2% and winning to more than 2% (of the equity).
That's what I do Pete.
After I've reached certain amount (profit or loss), I tend to turn the computer off and do something else. I've been doing it for some time. Still feel a bit disappointed after a losing day - I would like to achieve some sort of indifference (not to get too disappointed with losing days). I've already achieved that with winning days - being indifferent.
shadowninja
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Well, if you're sure you're taking the trades according to your system/strategy/method/style/instinct and not just wildly punting like a drunk in a casino, then just be happy that you're doing the right thing, win or lose. Shrug your shoulders and know that you'll easily make it back if you remain disciplined.
Or to put it another way...
B
Black Swan
Bedsit, just a quick reply, got to get out...I really struggled early days with losses, I hate losing at anything, (unless its to the kids ) pathetic but there you go..Anyhow I kept searching for a strat/ to develop an edge that could be perfect, zero losses..madness. I'd have 5 winners in a row and would then be bricking it waiting to take the inevitable loss..and like you it felt painful..
You have to accept that they (losses) will happen, it's normal, it is part of the game, you canot avoid them even if you're only looking to scalp a pip or two..
IMHO what you should be taking pride and satisfaction in is the fact that your MM appears sound, however, is 2% loss per day too strict, perhaps you need to widen it? Fwiw 6% is my tolerance day trading 3 pairs on the small TFs, can be bigger on the swing trades as I can have a running PL slightly bigger, both strats based on 1% risk per trade. However, that's now based on 3 years of full time trading *knowing* that if I stick to the plan then the clever- stupid balance will be restored..
Just remembered a thought that use to help me early days when day trading only, I used to remind myself that the worse that could happen; based on taking an average ten trades per day off 3 pairs, was 5% loss (I was at 0.5% risk per trade). Now if you get ten losers in a day, trading the same method, it's either a weird disaster or the strat is beserk. Worst was generally losing 3%, 7 losses 3 wins.
One other thing, take less risk per trade until you reach a point where you are comfortable with the loss, lots of guys go back to mini/micro lots when they're in a hole, you can open micro accounts with fxcm and risk the equivalent of ten cents per pip..
) pathetic but there you go..Anyhow I kept searching for a strat/ to develop an edge that could be perfect, zero losses..madness. I'd have 5 winners in a row and would then be bricking it waiting to take the inevitable loss..and like you it felt painful.. You have to accept that they (losses) will happen, it's normal, it is part of the game, you canot avoid them even if you're only looking to scalp a pip or two..
IMHO what you should be taking pride and satisfaction in is the fact that your MM appears sound, however, is 2% loss per day too strict, perhaps you need to widen it? Fwiw 6% is my tolerance day trading 3 pairs on the small TFs, can be bigger on the swing trades as I can have a running PL slightly bigger, both strats based on 1% risk per trade. However, that's now based on 3 years of full time trading *knowing* that if I stick to the plan then the clever- stupid balance will be restored..
Just remembered a thought that use to help me early days when day trading only, I used to remind myself that the worse that could happen; based on taking an average ten trades per day off 3 pairs, was 5% loss (I was at 0.5% risk per trade). Now if you get ten losers in a day, trading the same method, it's either a weird disaster or the strat is beserk. Worst was generally losing 3%, 7 losses 3 wins.
One other thing, take less risk per trade until you reach a point where you are comfortable with the loss, lots of guys go back to mini/micro lots when they're in a hole, you can open micro accounts with fxcm and risk the equivalent of ten cents per pip..
meanreversion
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You could approach trading as a business and learn to accept losing trades as a business expense. Every trade you make is a mini-investment and they aren't all going to pay off. It's the few big winners you get which will offset all the losses.
Bedsit, just a quick reply, got to get out...I really struggled early days with losses, I hate losing at anything, (unless its to the kids
You have to accept that they (losses) will happen, it's normal, it is part of the game, you canot avoid them even if you're only looking to scalp a pip or two..
IMHO what you should be taking pride and satisfaction in is the fact that your MM appears sound, however, is 2% loss per day too strict, perhaps you need to widen it? Fwiw 6% is my tolerance day trading 3 pairs on the small TFs, can be bigger on the swing trades as I can have a running PL slightly bigger, both strats based on 1% risk per trade. However, that's now based on 3 years of full time trading *knowing* that if I stick to the plan then the clever- stupid balance will be restored..
Just remembered a thought that use to help me early days when day trading only, I used to remind myself that the worse that could happen; based on taking an average ten trades per day off 3 pairs, was 5% loss (I was at 0.5% risk per trade). Now if you get ten losers in a day, trading the same method, it's either a weird disaster or the strat is beserk. Worst was generally losing 3%, 7 losses 3 wins.
One other thing, take less risk per trade until you reach a point where you are comfortable with the loss, lots of guys go back to mini/micro lots when they're in a hole, you can open micro accounts with fxcm and risk the equivalent of ten cents per pip..
Exactly what I've realised after some time Swan.
I've tried and can't do it - find a 100% winning system.
I'll stick to the system and accept the reality - 40% losing days.
That's how I see it Meanreversion - losses = business expense. Maybe I should try to improve 'big winners' management - I don't like giving back more than 20% already offered by Mr Market. I'll try going for more when they come (although it doesn't happen offen, so by doing so may give too much away)
barjon
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bedsit
I guess it's not all that helpful to say something like "learn to accept it" or some such, since if you feel like that then you feel like that.
Try going the other way, exaggerate your feeling, work yourself up into a right frenzy about it, kick the walls, scream at your day's account etc - your inner self will soon kick in and tell you you're being silly. You can then give a sheepish grin and close the page
jon
For me I struggled with the same issue until I realised that my thinking was wrong. In life and work we are taught that decisions are either right or wrong. Its easy to feel that with losing trades that you were somehow "wrong". The change came with me when I understood that trading is about probablities and therefore losses are an integral part of a winning system.
