Cutting my losses. Always thought I could win it back by holding out longer. But that got too stressful. On the short timeframes, even worse.
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I believe a loss of a big opportunity hurts much more than a loss itself. When you receive a loss, you analyse what went wrong, make some changes to a trading strategy, etc. But if you did not open a trade which could end with a big profit, it is more related to your fears rather than a strategy.
However, if you see the price goes 200 pips after US INterest rate, it is not a lost opportunity.
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Deff losing big!
I see this side too.
Yeaaaah, this move has never worked for me. Granted I’ve only been trading for less than a year but still, in the few times I’ve tried it… nope.
trends are like trams. no use to run after one if you missed it, the next one comes sooner or later around the corner.
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It’s critical to realise that missed opportunities do not determine who you are. You are not a failure because you missed out on one opportunity. Everyone makes errors. What matters is that you learn from them and move on.
It never bothers me missing a trade, there always tommorrow
There will always (“always”) be other opportunities, so taking a loss affects me more, personally.
I am still an amateur Trader but, I feel losing a Big opportunity affect us more than losing. Losing is expected but as long as there is always a SL there and you don’t lose money more than you gain then you’re good. But losing a Big opportunity as a trader is more heart breaking.
Definitely losing hurts more because I will have another great opportunity to trade in the future.
Both conditions are enough to disturb your mind and make you emotionally imbalanced. However, keep patience and trade mindfully so you can cope with your unnecessary emotions.
Though both are bad for any trader, losing an opportunity is worse. Losses indicate your flaws and you can always correct them but once any opportunity is lost, it will not come back no matter how skilled you are as a trader.
Firstly, never lose big.
Secondly, when you’re right, aim to make more money from being right than you would lose from being wrong. When you are in a good trade, stay in the trade - when you’re right, keep being right.
Actually, losing big means avoiding the money management rules! On the other hand, missing an opportunity is very common thing here!
None. I used to be affected severely by these things. But then I learnt about trading psychology and emotionally developed myself.
We can’t be present every time in front of our computer screen. But the moment we are present, we should make the most out of the time. It’s okay to miss out on opportunities when you are offline, not trading, or doing some other work.
Although I am much more careful with my risk management now in order to not encounter any ‘big loss’; but if I do, I do not think I’ll spend more than a day mourning over it. Win and loss are two sides of the same coin, without which forex market trading won’t exist. Sometimes loss can be caused because of the uncertainty of the market, and sometimes because of our fault. It is best to learn from our mistakes and prevent ourselves from repeating it anymore.
Any tips for staying in a good trade?
Getting into a good trade depends on TA. Getting out of a bad trade depends on TA. Staying in a good trade depends on profit.
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One of the biggest flaws in human psychology is the over-emphasis of loss v under emphasis of gain !
My biggest loss was c £15000 in a trading bet.
But concurrently I earned over a quarter of a million in property speculation !
Did I care about the loss ?
Did I care about the gain ?
Not really
"Treat those two imposters both the same !"
Love the stoicism. Been trying to learn this!
stoploss is the only thing we can control , my biggest achievement is always a smarter loss , hence losing big is unacceptable. big opportunity?nah ,why should i blame myself with something i can’t even control or foresee.