Try to learn the best you can from your mistakes and not repeat them. You should continue with trading and learning but with a small account and focus yourself on learning and not on earning till you get to the point of consistent profits. Then you can increase you trading volume.
You said it - walk away. If you’re suffering from a losing streak, close your platform and walk away, at least temporarily. Try to learn from your mistakes. I have actually seen people writing down what they did wrong on post-it notes around their workstation, because the urge to react in the same erroneous way in a similar situation is sometimes very strong.
After losing it be a time to take advantage of the situation and analyze the cause of your losing. That is why the keeping of trading journal is important it help you to re-study the process of your trade and be able to detect the fault and if possible make proper research to work on the problem. It should not be a time to back out.
Trading loss is part of the business, but we need to understand the reason behind the loss. If you are losing money because you are trading blindly without a tested and working strategy, then you are no different from gambling. Then you should stop and focus on finding a working strategy first. If you have a trading strategy, then you need to find out if the loss is acceptable based on your back testing and forward testing results of your trading strategy. Every trading strategy has losses, there is no 100% win rate trading strategy. What you need to do is to know your trading strategy inside out ( meaning that you know its win ratio, max drawdown, no of consecutive losing trades and etc) if your trading strategy is profitable and has a positive expectancy, then you should have the conviction of carrying on trading based on the strategy even after a couple
of losses. Some Traders have problems with continuing trading /sticking to their strategy after losing trades is because that they do not understand their trading strategy well enough. If they know the max number of consecutive losing trades for their strategy is 6, they would not stop trading their strategy after having 4 consecutive losing trades.
You should not care about a single outcome of your trade, you should care about the collective outcome of all your trades.
And yes, I completely agree with some of you saying that patience and discipline is very important in good trading.
After a loss i usually go back and analyze my trading plan so as to figure out what cause ti. That is why it is important to keep a trading journal.
Try to distance yourself from the emotion of losing money, and look at it as a learning curve. The more practical you approach the situation, the better! Look into what happened, and what you would do differently next time, and you might find that today’s loss is tomorrow’s investment!
That must to do for wise trader who want to be better trade again in next trade. No need for too upset much less disappintment with the unexpected result . We just need for instropection . and yes with that way analyze the condition that not meet with the desire will make us understand what must to do in next trade to not fails in same hole
After loss not be much disappointed , it is with all traders. Loss can make you better n future when you see how to avoid from it and do proper steps before trading . After loss a trader is more careful to use lot size and risk taking . He tries to manage his trades well.
After loss take a brake for some time. Think what did you wrong, make analyze, look at your trading journal.
Good luck!
That is good , break for some time can make our mind being fresh again and also we can recover our mental that was down . in this moment not easy for everyone can think clearly when force to trade again
To sum it up:
1-Find out when you made a mistake, and why, and how to detect it as early as possible.
2-Take a break.
3-Move on.
4-Start over.
The best way to deal with loss is stepping aside and analyze the problem then find possible solution to it and then prevent future occurance .
It is not so bad to learn on mistakes, but if your are a newbie it is better to start with a demo account in order not no lose in the beginning and be dissapointed with the whole trading system. Using demo account you will be worried about nothing, only gain some experience and choose the right broker in the end.
Honestly i always feel how i could have done opposite thing and could have gain that much which i lost, but reality is that we can’t bring the past back, so just learn from it and take bit of rest.
It is always a good practice to track our past trading and see how we are doing because that will give us an option to make some of the corrections in our trading systems
After losing tread don’t get upset just try your best treading and you will be best trader also find out why you loss and you try to give up this kind of bad practice. you also mind it its a knowledge based business.
Thanks
Loss also as part in forex trading, sometime this occur and inevitable, but of course as trader need to keep in calm minds if they suffering with loss, don’t emotion and make reckless decision, trading forex ned plan trading and good analysis, learning on the kinds market that giving better opportunity to make profit might will reduce the risk in trades.
The other thing is while reviewing and making any adjustments based on what you’ve learned to your trading plan, get back to it…don’t go off plan
If you have lost your money and you still interested to make profit in forex then you need to make lot of efforts and hard work. Also learn more and practice more to get good results in Forex.
Yeah thats just like me Lost a lot of money but i took this as the fee spent on learning the trading business. And now i confidently can say that i have the knowledge to overcome the losses made.