Omg, so since the 1st of August pretty much everything I do in the market goes wrong nearly the second I place my trade. Before that, and for the past 2 years I had been trading very well. Making 50-100 pips a day was no problem. But NOW I can’t seem to make [U][B]1 pip[/B][/U] to save my freaking life. I am still following my trading plan and looked at it to see if it is still viable and it is. But I have literally lost my last 21 trades in a row. It is like when I place my trade the market says, “Ok, well Karma placed his trade no so lets move in the opposite direction now”. Ugggghhhh, I have NEVER been so frustrated in my life.
First of all, Just calm down. There is good days and bad days. Sometimes bad days can be in a row and make us frustrated. Unfortunately, the most important part of trading is the psychology and I believe you little lost it for a while. My suggestion for you would be just take a little break something like few weeks to refresh your mind.
Making 50-100 a day?
And I gotta say these days the markets have been extremely volatile.
But reevaluate your strategy, and make it even more basic.
That way the trade setups you see are less than before and the ones you wanna take you can really judge how it’s gonna go before entering.
Be calm and be composed.
Losses are a part of trading, just know that you got what it takes.
can you post a couple of examples of trades you lost. Im sure folks here can give feedback, that might be helpful
Your luck runs out…
Go back to demo trade.
Futile to continue live.
Pride before a fall.
Opportunity to learn humility.
The market taketh what it giveth. Stay out of it for a while. This markets got some downside.
Start analyzing your trades. Start comparing them to your trades from before and see where is the difference.
it is fundamentals that blow away any good technical system, me also i face a very bad trades lately.
hold your horse until the equity markets neutralize.
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As Larry Williams said “I will have my losses, but they will not have me”…
Losses happen bad weeks happen. The market is in summer ranging mode and august is said to be the worst month of them all! I’m sure you system still works just adapt to the current market. Maybe your SL is to low or your risk reward is to low. Maybe you’re trading a ranging pair once you hit the top or bottom and then price reverses. Just look the big picture and say, am i trading with the trend? Is this pair ranging? Where are my major support and resistance levels? What indicators are you using? Is it a price action system or a indicator system? We will all help just give us so more info so we can see where you stand.
If you are having some trouble with making the money you think you should then you should check out the demo accounts. They might come in helpful to you. I have used them and I have to say that they did come in very handy to me. They are great because Forex trading within a test environment where no trade actually gets sent to the market. So in the end you are pretty much able to win. And they aren’t using your own money, so it’s worth it to try it out. And if you’re thinking about using a demo account then I would suggest checking out concordbay.com/en. They are pretty much the best in the business right now. I have used them before and I have to say that I loved working with them. They make it easy and honestly you will get a lot out of it. I think that the demo accounts are great and if you need one check them out there.
Been a while since I’ve had the chance to visit here; not much has changed. Looks like a new batch of beginners though. Watch as the markets tests macro fundamentals. We should be trending sideways for the long-term. Trade accordingly good luck!
It’s possible you’ve developed anxiety and it’s affecting your trading. Or the conditions under which your strategy worked have changed. Or it’s a combination of the two. Either way, it’s probably a good idea to step back from trading for a few days and try to focus. Perhaps return to demo account trading for a while.
Totally agree with you!!! Even professionals lose sometimes.
So, take a break, have a nice vacation with your friend/family
Soon you’ll be making 50~100pips a day again!