It’s always best to trade with a goal, always set a target and try as much as possible to follow it.
don’t control your emotion ,you loss simply because your technic is not on point ,it has nothing to do with your emotion ,if you have 30k to loss ,why don’t you give them to me ,i can instantly make you a winner for the rest of your life.
How everyone reacts to loss or gain is obviously different.It can take more time for some to find their “niche” and trading style.A cliché if it was so easy we all be millionaire s,that obviously is nt true but you know what I mean
Focus on controlling your emotions and take some time off. Review your mistakes and revise your strategies. You will learn it throughout as you gain experience so keep an open mind and take it as it comes. That is the only way to survive in the market.
well one thing is it will get better with experiences and you are more used to your emotion. That why i would suggest new traders to switch to live account if you feels confident enough with just a small amount of fund so they can start experience and learn how to control their trading anxiety cause it gonna happen to everyone.
Acceptance is the key. The hardest part of getting through a loss is owing your mistake and taking the responsibility to
By paying attention and learning from mistakes to prevent them from happening again.
Facing loss is not a good thing for any trader but if you take it positively you find it a learning lesson. As you now know which works best for you and which doesn’t.
This was quite a helpful post for those who feel lost in the market after suffering loss. Note down your thoughts in a journal and refresh your mind. Maybe take a break and come back stronger. Control your emotions and use stop loss.
Of course it’s so timely, especially this period when the market is filled with uncertainties.
This post is definitely something everyone needs to read, especially during these times of uncertainty.
Thank you for the post! I got to know a lot. The power of journaling trades is underrated.
Some good advice in this thread.
A new book that I can thoroughly recommend, it has been recommended elsewhere on babypips.
BEST LOSER WINS - Tom Hougaard
This book is a must read, right up there with Trading in the Zone, it’s an absolute contemporary masterpiece.
Thanks for the recommendation.
Don’t grow much worried about tarding losses because it will weaken you. You should pass your time analyzing market condition.
Suffering loss is a common scenario in Forex so you have to get used to it. Make sure every loss leaves you a lesson.
I read all the comments and I thank you all for the tips.
In theory is all understandable and accurate, but in practice is different…
We all need to find our own emotional breakers definitely.
It really is. Even paper trading versus live trading has a big difference. If you’re still on demo, get a tiny live account and see what your emotions do when its real money that you’re trading.
I think after the fact, you have to do the dirty work and review your trades. And that means a journal to make it easy to review. But it’s not easy to keep a journal! It’s work that I have a hard time doing.
I trade live for a year already, that’s how I learned everything until now.
Trading the demo would never teach me anything besides how to work with the program and etc. In my opinion you can’t be trading demo too long.
Yea, I think the training wheels need to come off at some point!