There are times when you have nothing but red figures on trading journal. Then at that time what you have in your kitty to make your day positive? Is that a short break, a power nap or a few more brain storming sessions on the charts? I would love to hear what you all are upto in the difficult situations?
Hi,
Fortunately for me, this interest consumes about 10% of my time at most. So in such circumstances, I just ease off the pedal and wait for the right market conditions to return. Right now, it is income-earning NFTs that have caught my attention, and there is a remote possibility that if you can accumulate enough of them, they could make a liveable income. I have a total of 2 + 14 + 47 income-earning NFTs from 3 completely independent sources, the last of which is income-earning, and the first two of which will become income earning when the games are released. Right now the 47 are earning around the 5% a week mark, and I have never earned that sort of return from Forex consistently. But a lot of the Forex principles and knowledge map directly to this newfound income stream.
I am a human robot so I have no expectations and therefore I am free
Definitely take a break. Watch a movie, go outside.
If my day was bad, I go for some ice cream. Or if I had a really good day, I’ll go for ice cream.
I guess I just look for an excuse to eat ice cream!
For real, though. Do something unrelated.
When you come back to it, however, there has to be some analysis as to why it was so bad.
That’s the most important part. Learn from your mistakes. Don’t be afraid to go dark, turn off your phone and be alone for a while. If you need to go dark for three months, so be it.
I simply take a break and make a fresh start after a few days.
Depends on my mood. Drinking a cup of coffee and taking a break often helps, or I’ll take my kids outside and we’ll go for a walk down the mailbox if it’s a nice day. It takes a while to get there because my house is off in the woods so we get to walk down the path to get there.
The first question you need to be asking yourself is… are these losses expected as part of my trading plan?
This is a business we running… when a business goes wrong, we don’t sip coffee or take a nap… we make business decisions.
If you have a trading plan, you know what’s your win rate and risk reward ratio… so if for example, in order to make your business profitable, you need a 60% win rate, and looking at your journal you see a 30% win rate, your plan is wrong, you need to redesign.
If your losses are inside the expected 40% of losses… You don’t need to care. Just keep trading, and stick to the plan.
All this said, you also need good rest and sleep, for trading, as well as for designing a trading plan
Fitness is also one of the best stress relief. Also meditation.
Traders should take a break and analyse their past trades and amend their trading strategies and backtest them properly before trading live.
Haha. When I thought about it, I imagined you guys wearing constumes and hunting bad guys on the way to the mailbox.
Some kind of mash up of these two photos…
I think if you are losing consecutive trades, then you should take a hiatus from trading for a certain period of time. But if you still continue to trade, this might affect the trading decision and reduce the quality of the trade.
What I do is when I have lost a series of trades, I try to discontinue and take a break from trading for a period of time. However, continuing even if making consistent losses to trade can impact trading decisions and decrease the quality of the trading.
Ooh what’s your favorite ice cream brand that’s avaialble in the US?
Anything under $5!!! Haha. Preferably, Hagen Daaz.
I like mint chocolate chip. It’s like brushing my teeth!
But I’ll also take green tea, strawberry, or double belgian chocolate chip.
How about you @ponponwei ?
Ben and Jerry’s I love. But also if I’m feeling fancy, I love me some Jeni’s ice cream.
Re: mint chocolate chip, that’s exactly what I call it. Toothpaste chocolate lol.
Love Phish Food from Ben and Jerry’s and Brown Butter Almond Brittle from Jeni’s!
There’s also Nick’s now if you’re into creamy, Swedish-style, keto-friendly ice cream.
Do I need to tag people here btw if I’m replying to someone? Is that why nobody replies to me lol @dushimes
There’s some maintenance going on with the site. So, I think people can only see when you respond to their posts or their threads.
I don’t think anyone can get alerts for people they’re following.
You have to go to profile, then click on “following” then look where people you’re following have posted. But you won’t get notifications like before.
For now, at least.
I hope that helps.
So, for the time being, yeah, you’ll have to tag them.
Ok so interestingly, I did get a notification for this particular reply despite the lack of the tag.
I watch films and play games. I can’t stare at the charts for 8 hours a day, I tend to take unnecessary trades out of bordem. I look at the charts every 10 minutes for no more than 5 minutes. I mean if anyone’s down to play F1, Battlefield or Call of Duty I’m down haha. Had a great trade on USDJPY today!
Aside from forex trading, I enjoy reading good books such as “The power of positive thinking” and “The 5-second rule,” both of which have helped me become more positive and focused.
If I get one or two or three losing trades close together I’m not going to particularly worry. Stuff like that happens. But beyond that I can’t help reviewing my set-up criteria - asking myself what in the set-up (all my trades are from the same basic set-up) could have kept me out, or maybe pointed me to take the opposite direction.
Sometimes the set-up is good but you can see a sudden warning signal appear right before what looks like a good entry. Sometimes the warning prints on different charts but still should not be ignored.