Biggest lose streak in your trading career?
It’s probably the wrong question to ask, everybody has a losing streak but it’s like how long is piece of string.
If your trading regular you need to keep a trading log and then at end of each week in my case I look back over that period and put everything in perspective.
For instance I may have made 35/40 trades, let’s say my strike rate on a good week is 70% successful trades, and 30% went against me, 11/12 trades went against me, they were probably spread through the week, however 4/5 may have come in succession.
This pattern could and will be duplicated over the month and year.
However if you losing streak is percentage wise, is greater than your winning streak, take a timeout and review your trading plan and reasons for entering the trade to begin with.
Trading journey is full of a balanced streak and not only just losing streak. If we talk in figures, my winning streak is 75% and remaining is the losing streak. I keep on doing backtesting and analyse my mistakes. You must have a trading journal to record your trades for your future reference. Don’t just focus on profits as you might see why you are losing and work on it with full dedication.
It is complicated to single out a single set of failures, for there were not many. There were no such long lanes because if I see that I start to lose a lot in trading, I pause for a few days—this time I spend on analyzing the trading journal, parsing my mistakes, and just for moral comfort.
Every time I can’t find a good market situation.
At times like this, I feel like it’s the end…
But then, of course, the decision comes and everything is good again…
5 days I recorded loss more than wins.
It happens sometimes. Because working in the market is really like a roller coaster. But as time goes on, you start to react more freely and calmly. And it becomes a real routine that doesn’t evoke a lot of emotion anymore.
In percentage terms or dollar amount?
It seems to me that the most exciting and difficult moment for any trader is the moment when your order declines strongly and your free margin becomes less and less.
It sounds like a real nightmare. And it is a real stress, which requires further rest and analysis of existing events.
Loss is the common matter in the forex market. If you can deal with the losses properly you can make money from this market. So, make a plan and earn money from this market.