What's your advice or motivation for a trader on a losing streak?

Guys sad :confounded: to say but I’ve being on a losing streak for the past 4 months to say lost over 20 trades and its feels like am losing it all though I’ve being learning and correcting my mistakes but all still can’t get over it. :expressionless:. What recommended ideas do you have for me guys???

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Perseverance is key to eventual success. I can sympathise, as I am also going through a losing streak, mainly because the FX market is reacting to many fundamental news items.

I am of the opinion that the minimum account size should be at least $500-$1,000, in order to widen the S/L together with cutting down on the order size, while retaining a c.1-2% % risk management per trade - and not exceeding 5% of open trades to manage.

The rationale is that even small spikes in price action movement can blow the S/L if it is not wide enough breathing space. I have tested this out on both a live and demo account with a 100:1 leverage, and the win rate has been improved.

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Go do a post analysis on your trades. Reflect back on what can you improved in the future. Do a trading checklist if it’s required to remind you of something (maybe your rules, max trades for the day/week, etc.).

What’s done is done, What you can do now is only whether you learned from that mistakes. Go back to demo if needed. Treat demo as if it is your real money is on the line. I traded demo for freakin 6 years!

It might feels like you tried to learn so many things yet you have learned nothing. I’ve been through that as well. Take a rest for a week or a month if needed so that you can see the markets with a fresh perspective. I did this before and then when I came back, I’ve realized that the way I see the market structure, I thought I traded a trend pullback when it’s actually a range pullback. Simple mistake like this could lead a whole different perspective of how you read the market.

Anyway, I wish you good luck and never give up!

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Take a break!

Or perhaps go on demo, documents your analysis here on Babypips, we’ll help you on some areas you getting it wrong, if only you would be honest & humble with the converasation.

I recalled i made my analysis here some time ago and the converasation made me do better. I think that’s why this forum exist, not just coming here to say “Hey, am a newbie from Singapore” “Hey i hope to meet likeminded traders”; now let’s help you get better. You can as well tag me so i will be aware and hope to give my best

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I think the best thing to do is take a break from trading. Take as long as you need to clear your head, doesn’t matter if it’s a week, a month or even a year. The key is to reset yourself. Once you feel like your reset the first thing you need to do is analyse your past performance. Look at your trades and market conditions from when you were profitable, and also when you were losing. With a clear head you should be able to spot the changes in your strategy or in the market that made you lose. Once you know that you can tweak your strategy to compensate and get back to being a winner.

Good luck :crossed_fingers:

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Why are you losing over a few months where the markets have been in a trend? Are you trying to bet against the trend? Overleveraging so small retracements are stopping you out? Whatever you’re doing needs to change, trade small and stay disciplined. Don’t look for big wins, look for small gains.

1% a day isn’t hard to do if you wait for a good opportunity. If you do this, you’ll turn a small amount of money into a huge one over 2 years. No need to risk big to get big rewards, they will come in time but patience is the hardest part.

The most important part is turn off your terminal when you make a loss. Almost every time I try to chase a loss I make it bigger. Discipline is the hardest thing to do and call it a bad day then wait for a better one tomorrow.

Note:
I say 1% a day isn’t hard, it isn’t. I can easily pick on almost any instrument a trade that would make 1% at London or NY open. But that doesn’t make it easy, the temptation to let it run or add to your good result and then lose it is what makes day trading so difficult. So whilst it isn’t hard, it is!

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Perseverance is key thanks so much. Okay but i will try out that risk management out thanks buddy

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Thanks alot I will do as said
And am not giving up

Okay I will do that and make sure to tag u buddy.
Thanks

Thanks so much :heart:

Thanks so much.
I think i have to really take a good look into my risk management.

Dear friend, the first important thing is to stay calm and avoid emotional decisions. Next, review your trading strategy and adjust your risk management and remember losses are part of trading and with learning from your mistakes you can work towards.

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Thanks alot :pray: will do that.

To start, first of all, create a trading journal and move to a demo account to take emotion out of the equation. Begin making trades on the demo account as if you are trading with a real account. Keep a journal for every trade you make. Always remember that a lost trade teaches you more than a trade you’ve won because each loss should prompt you to review your actions.

The next important aspect is that the impact on this market is very high. Try to read about fundamental analysis, as it will help boost your trading. Backtest strategies in replay mode within your time zone. This means you should use the time when you normally trade and apply your strategy to historical data for the past 4-5 years.

Most importantly, learn about trading psychology and risk management.

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What a losing streak means depends on what you know about the strategy that produced it.

Assuming you followed the strategy rules to the letter.

If you know that your strategy has a 60% win rate, keep trading. The only ways that statistic can be undermined are if the strategy is so specific that it only works on one pair, or if the count of your losing trades is too small to be statistically significant.

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Every trader faces losses; it’s a chance to learn and refine. Stay disciplined, review your strategies, and remember that setbacks often pave the way for comebacks

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I appreciate .
I will do that

Sell gold today there’s a win for you follow my threads

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Take a step back, consider what you can change about your approach, and realize that a few bumps on the road do not define your entire path.

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Hold on, trust your instincts, and don’t let the ups and downs bother you too much.

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