A bad day, well define a bad day, 1 loss is not a bad day, but, a few is a bad day, so I would advise them to stop trading for the day, do 1 of three things.
- Walk away, go and do something fun, water the garden, watch a comedy or have coffee with a friend and vent.
- Stop trading, go and re-analyse why it was a bad day, why did you take those trades and why did it go wrong, the worst you can do is revenge trade, you will lose more.
- Read a book, watch a you tube vid or something to educate yourself on your mistakes, why you made them, re-look at your strategy, go and back test it and ensure you are sticking to the rules. i mean, your strategy has been back tested right?
Good luck and always remember, half the battle is trading psychology