I feel a disturbance in the force

Since i see a lot of people dissapeared or have become very quiet on BabyPips this and the last week i assume that many people got grinded and bitten by this choppy market ovet aht past 10 days which gave a lot of false signals.

$hit happens.

Loss is part of this all and that is why a good moneymanagement needs to be in place. I assume that many scalper and news traders suffered some good losses.

so now? how to recover?

here are some points that might help you:

  1. take a brake. go away for a week or two.

  2. forget all the news that you heard the last few days. all news events and all opinions that you made upon them of where the market is heading.

  3. Learn from your mistakes

  4. once youre of the brake redo you complete charts. delete everything out of them, have them blanky blank and redo everything new. then you will spot whats really important and what can be left out from now on.

  5. enjoy weekends with people, get drunk get boozed, have $ex

  6. remember why you started this trading- not to make fast gain but steady income

  7. go back to the “steady income” thinking and get rid of the “fast profit” deams.

  8. Learn from your mistakes (once more, as after redoing your charts you wil see where you went wrong more clear)

  9. start trading again (but before you do read point 10)

  10. reduce your play money by the half. Keep your accoun the same, or refill it (if you can) but from now on you dont trade 100$/pip anymore but not more then 50$/pip

  11. once you gained back your losses you go back to 100$/pip

  12. from now on, on every 25% new loss of your account balance you reduce pip size by 10$ (next is 40$/pip)

  13. when you arrive at 10$/pip = stop trading find another hobby

Good thread! Please tell me that you did not get bitten by gold again :slight_smile:

haha no, got some loss on oil this week but regained all on dow. im on 0, but i dont like beeing on 0 aswell :smiley:

but i realy hate markets like we had the last week and´this, i know from my own experience when i started that such kinds of markets is what makes the most people loose their biigest parts of their accounts and frustrates the most people.

Hem… Usdjpy is very indecisive. The one I’m looking right now