I think a trader should not torture oneself over missing a trade. Much as aggressiveness is very important for the success of any trader it is also critical for a trader to know his limits. Sometimes you should just watch the market from the sidelines
Though it hurts bad for missing a profitable trade, but one must be grateful that there were many missing losing trades as well. But I hear ya, books are good, there are popular books like Mark Douglasā āTrading in the Zoneā or āThe Art of Thinking Clearly_ā. Sometimes these alone canāt help, it takes your stable mind to slap your irresponsible attitude.
Youāll get there.
There are so many opportunities for trading, since the market never stops. Instead of regretting over a missed trade, it is important to sit back and analyse the market. Most traders are more concerned
Missing a trade is not the end of the world. I think what is very important here is not only to know when to trade, but also when not to trade. Overtrading the market is one of the reasons that can make a trader feel very bad for missing a trade. Overcome greed to be able to control your thirst
You can find a thread about your problem in this forum. might be able to resolve your issue.
the market will always be there , chill
worst feeling ever !!
guys, the struggle on top of this is that trading can be LONELY and CREEPY! I am not saying I want some cuddles while looking at the charts, but man I need to explode some of my feelings and NO ONE around gets it. Having said that, you are all my victims whether you care or not (probably not) ā I still donāt care and I will continue to vent ā¦ xD
one hundred percent agree here. you do have to lose sometimes in order to win; to learn from mistakes, and because there have to be losers to have winners.
Worst case scenario, go back to a demo and practice before placing the live trades
You should never feel guilty about āmissing a tradeā unless you are in a mindset of scarcity. There are so many opportunities in the FX markets that you should focus on abundance. Take the positive that your analysis picked a winning trade, analyse why you didnt take the trade (maybe you were away from the charts, maybe you hesitated, maybe you exited the trade early)!
There are a lot of opportunities that will come your way in forex. Never be guilty on missing a trade. I know this is a part of trading, canāt skip that but stay calm and focus on catching the other ones.
Thatās true. Thereās always a new opportunity for you in the market. How could anyone regret that more than a lose trade?
Donāt feel guilty and learn from your mistakes. I donāt prefer to read such trading books but i believe in analyzing, learning from mistakes which will help you to sustain well in forex.
I keep seeing this thread so I might as well put another post in.
I donāt miss trades. That is, I donāt miss them by mistake.
I watch the 28 important charts and I know what Iām looking for and if I see it Iām in the trade at the first sensible entry price. Of course it happens now and then that some market I didnāt want to be in goes ballistic and I could have made a yearās salary in a week if Iād got in - but getting in would have been in contradiction of the TA, so a win just on dumb good luck. Now THATāS a mistake.
And what is approach to analyse your mistakes? How do you know what was the reason for mistake?
I am a newbie so controlling my emotions is an important issue i am dealing with right now.
Best way to do that is to delegate some decisions to automated software or maybe make your trading completely automatic.
Sometimes even when your Analysis is on point a news event could cause a spike and hit your SL .Often your trade would have successful if this didnāt happen so you did nothing wrong
To control our emotions is easy by saying, but not so in reality. Forex trading is an EQ game, not an IQ game, therefore first thing to learn for newbie is either to get some books on trading psychology or to identify some good mentors to guide you, saving you years of trials & errors and tons of unnecessary losses.
No right or wrong. My personal opinion is to find a good mentor to guide you, so that you donāt have to be like me, while I was young, I spent a lot of money on unnecessary losses and wasted a lot of years trying to learn by my mistakes. In retrospect, if I would have found a good mentor, I would have shortened my years of groping in the dark and saved my USD1 million losses.