Hey trader, catch some nice pips today ? Hope you do !
Here I would like to share how a trader should handle this situation when we have a losing trade ! ought… it is damn painful ! (because market never provide painkiller)
Especially for newbie, we tend to chase or make revenge after a real-money-losing trade! Because we as a human, we don’t like to accept our own fault. We rather be a denial then to accept our wrong decision made or admit that we are FX-Noob !
For example, when we shorting a pair but unfortunately we were stopped out by the SL. At this moment, we will lose our mind easily and tend to take another shorting right after SL triggered with a mindset of “ I wont be wrong as all the indicators (leading or lagging) pointing the same way !!! I must win back my money!
However, on second trade, market is just like a mad dog keep chasing your SL and your SL got bitten! Now lose again! (A second conservative losing trades!)
At this moment, our brain will like dipping in water. Hardly rationally function anymore. While some water proof brain will come out an idea.
“ Ah…ha… it is because the god damn indicators’ fault!”
Now I am going to bet the opposite way and follow the market! Take a long position instead of shorting it. With a hope and finger crossed that will ride on the market trend!
Eventually, market makes a u- turn too like what you did! (seems like he knows what you’re thinking)
And a third conservative losses rewarded by Market !
So the main point here I would like to share it. Once we got a losing trade, it is better for us to write/record down our journal of why we lost and keep it. After that just LEAVE your platform and do something else. You can go for 3D Transformer in cinema then in stick to D1 candlestick screen, playing pick-a-boo with your dog, or car shake and Deep.T with your sweet honey. It is better for your small brain to take function over your main brain which is caught in fire !
Sometimes, a losing trade doesn’t mean that we are stupid or noob or bad luck. It is just maybe the entry timing is wrong or our stop loss level too tight and so… Although we can correctly “predict” the market trend. Try to refine it and there must be a reason behind every losing trade. Accept it and learn from it. Then you will have one big step move toward a successful trader !
While… I have to clarify that I am not very Pro in it. I am also still learning and I would like to share it with all the members here. As the Babypips said, you will learn better when you teach ! so for my case is, I will learn better when I am sharing. ( Indeed, I just got a losing trade about 30 min ago. And I leave my platform and spend my time to write this page. Who knows it might save me from another one or two losing trades right??) (wahaha !!!)
Happy Trading ya … !
(Besides I need one indicator here. Any one have it or can programmer expert come out with it so that it benefits all the members)
pls go to
Rate my Software section >> find this topic >>
"Any member here has got “account balance alert indicator in MT4”
By
Pipocket