Yes, I tend to analyze my mistakes and take losses as a normal part of trading.
I traded live for the 1st year of my journey. Then did not trading live for 9 years until i was mathematically convinced i had solved it. now i cram a decade into a year for my students. if you can do it in less time than me without a mentor then god blessed you.
I have a mentor, and he tells me demo is a waste of time. Just learn the basics because real emotions are in real money management. I hope those 9 years were worth it for you though.
I’m not that young so I’m not going to spend 10 years trading demo.
im sharing what worked for at least one another person, and it wasnt demo trading. strictly backtesting tells you if something works before going live so theres no point in starting if you’re not mathematically satisfied with your backtesting results. laziness blinds us from the fact that backtesting qualifies a system.
a mentor allows you to skip all this time so you’re lucky, but you’ll never be able to skip backtesting even if the time is less with a mentor
This is the killer in the market, if you must succeed in your trades you must learn to control your emotions.
I know loss is an obstacle to traders but you have to get through losses as it’s quite common in trading. Don’t think of previous losses much.
Yes, I agree. Avoid overthinking and focus on learning.
You should build such a trading mentality that can sustain losses. In Forex, staying fully out of trading loss is impossible.
Forex carries mounting challenges for neophyte traders that they can hardly sustain. Newbie traders have run their attempts on their own to develop their ability.
Hey what’s sup bro ! Don’t take this the wrong way ,but once you lose enough money you control your emotions better . At some point you say - fxck it I gotta figure it out ! I would say lower your risk and learn consistency & get more detail in your plan of action in trading - in my trading plan I have rules about emotions ( it sounds crazy ) but it helped me a lot . Make your trading detailed & follow it to a T … I mean a Big Small T … don’t ever get off the plan , I learned that the hard way . Also having a trading journal is golden
After experiencing a loss, take a break to help you relax. This is also important to avoid making hasty decisions that could lead to further losses.
It is never easy to accept the losses because you realized that the funds you had deposited, in hopes to make a profit, are no longer there anymore. So, you will be having a hard time dealing with that. But I promise you that the sooner you accept the losses, the better things will get in the future.
From the point of psychological perception, losses are the most harmful things for a trader.
Nevertheless, traders can facilitate losses’ affection on psychics. The only thing they have to do is trade… Yeah, I do know, that I didn’t discover something new for you. Such things can be overpassed only due to experience. Initially, it’ll be very difficult, and it would seem that the world is destroyed. But, after you will lose and lose, you will learn a lot, and losses will be perceived much easier, as an inevitable part of trading actiivty, as it must be. Don’t be scared of them, imagine that every loss is an essential lesson.
The money is gone. Time to move on. Get off live and back to demo maybe. Unless you have a strategy that has winners and maybe just your position sizing or SL/TPs need some tweaks.
I usually take a short break if I get stressed due to my losses.
I do the same. It calms me down.
it’s possible ,and that’s distinct 1% from others.