I was winning for 2 consecutive weeks (13% of my account), here comes 3rd week – Im back to 0. How can I deal with this frustration ? I was hoping to climb up gradually, then suddenly fell back again !!
I do mostly range-trading, place my stops 20-30 pips and my target + 40-70.
Usually hold my positions for a couple of hours…
I lost coz I didn’t follow up my system 100 % of the time…
but how can I deal with this feeling where all of my time and effort wasted ?
I’m sure a lot of people dealt with this before.
Im only greatful I only lost what I made so far, not my money.
Like you said, you lost because you didn’t follow your system. Consider it a FREE lesson that most have to pay for (as in losing the initial investment).
Sounds like you got off easy…it’s not wasted time if you learn from your mistakes, and don’t make them again. Feel better? (no place for emotions anyway…win or lose)
The same thing happened to me sort of. My first week was great, and is still the best week I have had since I started. Second week was the worst week I ever had and lost most of my profits from the first week. Having a good start is sometimes not the best thing to happen when your new
That had an effect on me too, but it also made me more careful. It made me realise that less is more - in other words, Don’t over trade.
Having those 2 good weeks and gaining %13 of your account went to your head and made you make mistakes in the 3rd week.
This is what the psychological aspic of trading is.
Your system includes [B]you[/B] following or not following it. Your current system consists of a set of rules that you like to deviate from. Sounds like you don’t like rules.
If a “gradual climb” in equity is what you seek, perhaps a job is better suited for your needs. Successful traders take what the market gives them, not the other way around.
Just because a trader may faithfully stick to a particular system 100% of the time, it does not mean that he will experience success either, what’s clear is that there is incompetence on the part of a trader or a system when you do not make progress. But if your system is profitable and you don’t adhere to it amtrade, then of course the problem is psychological, perhaps your solution then is to consult a sports psychologist. I wish you well or If you need help because these markets have you tied up in knots I’m sure I can eliminate that confusion for you, send me a pm.
I have several techniques to control emotions wich i use them all, i feel kinda lazy to post them all but the easiest one is to take a deep breath and count to 20.
Ahh, the most popular question of all time for traders trying to get to the next level!
The good news is, you’re not alone. Every trader (including myself) has been there, and to be honest it’s one of the most challenging aspects of learning how to trade. Emotions are impossible to avoid with trading, but what you need to aim to do is PREVENT them from MAKING YOU CHANGE YOUR TRADE.
It’s ok to feel eager, excited, bummed out, etc during a trade. But, don’t let it impact your trading decisions. Here are some tips to help you out:
Write your RULES down on paper. This way you know you will never break them or justify doing otherwise
Practice your trading setups on paper before you trade real money. This way you will have confidence in your system, which helps with the emotions, because you know you’ve got a proven system that works.
Always trade small $$$ amounts while you are learning. If you find yourself too nervous while in a trade to the point where it clouds your judgement, just trade smaller lots.
I hope this helps!
do yourself a favour, and read “Trading in the Zone” by Mark Douglas. this book helped me, and many others that had the same experience. It is my bible, of which i have read countless times, and will read countless more times.
(no place for emotions anyway…win or lose)