If youโve suffered your first loss trading, you may feel like giving up. But, remember, this is a turning point for you and your trading journey. Stop now, and you will never feel the rush of victory! So here are some tips on how to get up if the market knocked you down.
๐ญ. ๐๐บ๐ฏ๐ฟ๐ฎ๐ฐ๐ฒ ๐๐ผ๐๐ฟ ๐ณ๐ฒ๐ฒ๐น๐ถ๐ป๐ด๐
You might be feeling disappointed in yourself, in the market, and even in the whole world, which is completely understandable. Donโt be afraid to embrace these feelings. Let yourself be disappointed or sad, but then address your feelings. Why are you feeling this way? Donโt judge yourself for not being a successful trading millionaire from the moment you stepped onto the trading platform. Baby-steps!
๐ฎ. ๐ ๐ฎ๐ป๐ฎ๐ด๐ฒ ๐๐ผ๐๐ฟ ๐ฒ๐
๐ฝ๐ฒ๐ฐ๐๐ฎ๐๐ถ๐ผ๐ป๐
Do not expect to become the next most successful trader right away. So instead, lower your expectations a bit, especially if you are a beginner and still figuring out the market. Your first failure is the perfect time to evaluate your expectations for this new activity and adjust them. Try researching risk-management strategies as a start.
๐ฏ. ๐ง๐ฎ๐ธ๐ฒ ๐๐ผ๐๐ฟ ๐๐ถ๐บ๐ฒ ๐๐ผ ๐น๐ฒ๐ฎ๐ฟ๐ป ๐ณ๐ฟ๐ผ๐บ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ๐
Research is what you need at the moment. To avoid repeating mistakes, you need to know what went wrong. Maybe you entered the market without managing your risk or learning about your instruments. Did you receive the news about the specific instrument way too late? Well, hereโs your chance to learn and not make it again. Do your homework to avoid repeating mistakes!
๐ฐ. ๐ฆ๐๐ฎ๐ฟ๐ ๐ฎ๐ด๐ฎ๐ถ๐ป โ ๐ฏ๐๐ ๐๐๐ฒ ๐ฎ ๐ฑ๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ ๐ฎ๐ฝ๐ฝ๐ฟ๐ผ๐ฎ๐ฐ๐ต
It is the perfect time to try again โ but without errors. You could start by using a trading strategy if you didnโt have one before or pick a new one if the previous one failed. Choose from hundreds of trading strategies weโve already written about, or create your own based on the research youโve done. Good for you!
๐ฑ. ๐ฆ๐๐ผ๐ฝ ๐ฐ๐ผ๐บ๐ฝ๐ฎ๐ฟ๐ถ๐ป๐ด ๐๐ผ๐๐ฟ๐๐ฒ๐น๐ณ ๐๐ผ ๐ผ๐๐ต๐ฒ๐ฟ โ ๐บ๐ผ๐ฟ๐ฒ ๐๐๐ฐ๐ฐ๐ฒ๐๐๐ณ๐๐น โ ๐ฝ๐ฒ๐ผ๐ฝ๐น๐ฒ
Comparing yourself you others can only stop you stop from succeeding because thereโs always going to be someone bigger, better, faster, and stronger. That applies to all of your activities in life, but trading especially. So, instead, compare yourself to your old self from a few days, weeks, or months ago. Are you more knowledgeable now? Do you have a better understanding of the market? If the answer is yes โ great, youโre moving in the right direction. If your answer is no, you need to fix that to start growing.
๐ฒ. ๐ฅ๐ฒ๐บ๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐๐ต๐ฎ๐ ๐๐๐ฐ๐ฐ๐ฒ๐๐ ๐๐ฎ๐ธ๐ฒ๐ ๐๐ถ๐บ๐ฒ
You probably know that true success takes a lot of effort and hard work. Here are some examples of people who got back up and rose to the top even after life got them down.
Brilliant post! will be great for lots to read
Interesting read! 
Makes me wonder. Whatโs your most memorable failure in forex? 
The first loss should be in a demo account.
After that you need to work out what sort of loss it was. If you were correctly following a consistently profitable strategy it was just an inherent loser. Pick yourself up and get on to the next trade.
For me, the only true failure is when you quit. There are top traders who blew their accounts multiple times.
Do NOT quit!!! Keep going!!!
Nah, never. First time around, I gave up when I suffered my first 100 losses. Still didnโt break the bank, but took it down by 75%. That was over 15 years ago. This is my fourth foray into Forex. NGU I say (never give up)
And youโre still going! @Mondeoman this is a story that motivates new traders to keep going! Thanks for sharing!
Iโm grateful for more experienced traders who share their stories here.
I reached out to a veteran trader and he told me his story: saved up, traded, and lost a ton of money his first year. But he didnโt give upโhe just kept going. After that, he started making profits.
I just needed one story so I could know that forex was real.