Continue reading...Three losses in a row are tough. That’s about the most consecutive losses that novice traders are psychologically prepared to accept before they feel compelled to take action and ‘correct’ the situation.
If you’re anything but a total newbie, I’m sure you’ll recognize the symptoms:
Frustration – Why me? I’ve worked so hard. Everyone else in the forum appears to be getting good results with this strategy? Nothing ever works out for me.
Anger – That strategy developer is a liar and a crook. My broker is running my stops. Someone should be held accountable for this.
Doubt – What if the strategy doesn’t work? What if I can’t trade? How am I going to support my family?
Fear – I can’t lose more money, what will everyone say about me when they know I’m a loser? How can I tell my wife/husband that I’ve lost again?
And if that’s not enough, the novice trader will likely be afflicted with the crippling inability to pull the trigger on the next trade, in fear of hitting a fourth loss in a...
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