Losses after losses… after losses! Here's how this experienced UK trader bounced back from losing trades!

This I feel lately

A good, interesting read.

Love the book recommendation.
I laughed at the short trades, cause i am actually great at short trades, and not so good on long ones. :joy:

Yes, I just find it difficult switching my brain from long to short - it’s not that short trades are bad in anyway - I just know my weaknesses after so long

I like that on this forum traders write about own such a small details, giving us to know themselves first as an individuals, and then as a traders. So, I’m really shocked that someone will wake up at 4.00 am or 5.00 am for a free will. But anyway, I wish you good luck in trading. Thank you for sharing your experience and little tips with us.

Lol - I live in Thailand where it’s really nice waking up before the sun starts beating down. The food markets are buzzing at that time

Also I like to be up as the US markets are just closing so I can move any stop orders I might have.

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Johnscott31

When is your blog coming up Trading forex have messed me up big time
Trading is so frustrating, i need a better knowledge on trading. Its interesting and at same time frustrating

Thanks for the book suggestion.

@philinocooline

Not sure what you mean when is it coming up - are you talking about my next post? - yes I’ve been a bit lazy of late

Working on a new one now.

If trading is not working for you at the moment the best thing to do is take a break from it

I know that’s hard when you want to make back lost money but with a break you will see things in a new perspective.

I think it was einstein who said you can’t solve a problem from thinking at the same level of the problem

Or when you are knee deep in trading losses it’s not possible to see the wood for the trees.

Taking a break was one of the best things I ever did to improve my trading

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Hi @Johnscott31, a beginner’s question: you mention that trading indices is still your favourite.
I am looking left right and center for info on how to trade indices but I am still confused. Do you trade CFDs on cash indices or index futures?
And do you have to trade those during the hours that the underlying Exchange is open? (ie trade NIKKEI during Japan trading hours?)
Thank you for all your super helpful posts.

@TTH

To be honest I didn’t even realise that still the two were different. I thought that went out years ago

But I guess its down to the broker.

Im assuming the indexes I trade are cash indexes but many of them trade overnight.

From what I remember cash indexes don’t have expiry and futures do.

I use FXCM and the US indexes, Nikkei, Aus200 all trade most the day - European indexes close for a few hours.

If I recall the likes of IG still have both cash and futures.

However the type of contract is probably secondary to the price action - which to me is likely the same on both

Thanks as ever.