Like when you’re on a losing streak like me right now, what do you think about To keep from quitting and to keep trying? Cuz I feel like it’s not going to work out but yet I wanna keep doing it. What are your thoughts?
I made one of those ridiculous spreadsheets that shows how much x% profit a day or week will compound your account:D.
I also have written a paper on my goals its a general paper that doesn’t just pertain to forex. Its just some life goals some of which might be easier to achieve with a successfully traded forex account to help me along the way.
I try to read it every few days to keep me focused.
When I hit a losing streak a few things I like to think:
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Theres always another trade… (so learn when to cut the losers and get out when the gettings good and swallow your pride, take the loss or whatever)
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I think what can I learn fromthe loss. Instead of being angry about it I examine it and see if there was something I could have done better, or if it was just a normal loss.
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It’s only money. I’m not trading with my life savings, so this one is easy for me.
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Even the big boys who are making the real loot have losses.
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The only way to tottally fail is to just quit and give up. If I keep trading and practicing and learning, despite set backs and losses I’ll eventually get there. … I’ve found this is the truth of the matter. The longer you trade the better you get at it. There is no bullet proof method or system or holy grail that you need to find. You and I, just need to keep practicing and learning and gain first hand experience.
Double underline #5. “Winners never quit and quiters never win.”
We’ve all heard about the fabled “5%” that make it. It’s a marathon. Keep your losses small so you can stay in the game. Take a break from time to time. Find your own trading style that you are comfortable with. Everyone seems to want to copy someone else’s success. But you will never be able to do that because YOU are the most important variable in the equation.
[QUOTE=Valkryder;150735]Double underline #5. “Winners never quit and quiters never win.”
We’ve all heard about the fabled “5%” that make it. It’s a marathon. Keep your losses small so you can stay in the game. Take a break from time to time. Find your own trading style that you are comfortable with. [B][U]Everyone seems to want to copy someone else’s success. But you will never be able to do that because YOU are the most important variable in the equation.[/[/U][/B]QUOTE]
well said Valkryder, this is the most valuable thing any trader can learn
I agree with #5 too, the more you do something, the better you get. only way to fail is quit…nicely said:)
If you still think like the majority and looking at your charts the same way as the majority does it won’t make a difference. You still get what the majority is getting.
You are getting ahead of the majority…the minute you have found the edge…but that requires an off beat way of thinking. Unless you are happy with what the majority is getting. Most people think alike without even realising it.
Everyone seems to want to copy someone else’s success. But you will never be able to do that because YOU are the most important variable in the equation.
You really need to get to know yourself. That requires a lot of guts to face it. If you are really serious about trading you get that worked out real fast.
Unfortunately you might well be right. Do you have any reccommendations for particular techniques that you found useful.
It’s of no use to you giving recommendations. You are [U]not[/U] me.
If you are serious about your trading then go to your doctor and tell him you want an assessment done. He will give you the right contacts if he is a good doctor.
Accept the results of that assessment. That by itself 99% of people can’t swallow.
Alternatively you can chase after this and that technique and get nowhere.
You are of course right, and its good advice.
Honestly the hardest improvement that I have had to do is with myself.
I’ve had to struggle with fear, self-esteem, anxiety, and everything related to me!
What keeps me motivated is that I know for sure that for all of us, not just for me, but for all of us who persist, the outcome will be very positive, not just money, but personally.
I have also my family as a motor and as goal. I want to give them a better life. So I stay focus with that and everytime I’ve had a bad time trading this is what gives me strenght.
I think that if you really want to succed at this, you’ll find the patience, self-control and discipline that it takes to reach your goal. There’s no special gift required to be a good trader, everyone can succed at everything with practice and patience.
Don’t get desperate, I totally understand you, but as Cas suggested, you’re not going to find the answer in one person’s particular succes story. Everytime you fail, you learn something else, and try to stay objective so you don’t get blind and take it personally and see the thinks like you want them to be seen.
The market has nothing personal against us, the market is like the sun, it goes up and down no matter what, it’s us who should let us go with the flow and adapt to itself.
I’m not myself a succes story, but I can tell you that my curve (personal and financial) now is in an uptrend, and in the two years I have in forex I’ve learned a lot, and I’ve also learned that I have a lot left to learn, but I’m not bouncing up and down steeply, I’m now more in a straight line going up.
Be patient, be disciplined, it’s good that you shared this with us, you know this is a lonely career and many time people around you don’t quite understand what you’re going through because this activity is totally unknown for them, so this is the place to hear and to be heard.
Lol I’ve already extended myself too much, hope this helps you and don’t ever lose confidence. Take a break, relax yourself for a while, and then come back to learn with your batteries full charged. 
I agree with this one a lot.
When I hit a losing streak, I know I’m overthinking trades or trying to force something when I don’t see a trade. But this self-awareness came after 2-3 years of trading, and may not be the same reason for your losing streak.
one thing i do when i hit that losing streak is to just…step…sway…from the computer, but sometimes it’s soo hard you know? but my ultimate goal is to get that half a million dollar house, not a million, just half a million is fine:D but all your advices are very good! thank you