Hello everyone, can I ask you a question? My trading has recently improved, with my latest trades for the month getting better, but my latest trade resulted in a loss of $11.5 after a series of consecutive wins. Can I ask you guys what you do when this happens? For me, I stop trading for a while to see if this is due to a trend reversal before getting back in. I would appreciate any tips or constructive criticism based on the picture I posted. Many thanks.
Overtrade the shit out of it trying to recoup only to mess myself up deeper.
Noor said:
Overtrade the shit out of it trying to recoup only to mess myself up deeper.
Yeah, which is why I made myself a rule; after getting a wrong trade, I will temporarily halt.
@Quinn
Yeah, that’s what I always tell myself lol I usually respect it very well, but yesterday was a particularly bad day for me and my rules. That’s probably the biggest issue I have with trading on my phone; it’s always with me. I’ll generally keep myself busy doing other things that I can’t look at the charts, but yeah, yesterday was a bad one. I noticed I’m a lot more emotional in my trades when I don’t sleep well.
Depends on what your strategy says. Pausing isn’t a bad idea, but losses aren’t a problem as long as wins outweigh them.
Uma said:
Depends on what your strategy says. Pausing isn’t a bad idea, but losses aren’t a problem as long as wins outweigh them.
Do you have any suggestions based on your own strategy? I’d be thankful to hear it.
@Quinn
If you are worried that your strategy relies on trends, and the loss means the trend has changed, then yes, wait and see what’s happening. Similarly, if your strategy relies on choppiness within a channel, wait and see if it’s now trending outside the channel. Just look for whether a change in the nature of the chart has caused your loss, or if it’s just one bad entry/exit and the market is behaving as usual.
983 > 1005 > 967 > 1037 > 1006 > 998 > 1045 > 943 > 980 > 983.
Finn said:
983 > 1005 > 967 > 1037 > 1006 > 998 > 1045 > 943 > 980 > 983.
I don’t get this 
It’s the damn money I traded for 3 days now and still stuck at the same amount that I deposited in. I don’t understand why.
@Finn
Well, after only 3 days, you shouldn’t expect too much change in the balance. It’s better to track your progress per month/quarter. Also, a loss is part of the game; don’t react to them, respect your plan, and keep going.
@Finn
Oh, I feel you, which is why I learned to stop trading once a losing trade kicks in and just re-enter again after a day.
Finn said:
983 > 1005 > 967 > 1037 > 1006 > 998 > 1045 > 943 > 980 > 983.
I don’t get this
That’s his profit after many consecutive trades.
Quinn said:
Finn said:
983 > 1005 > 967 > 1037 > 1006 > 998 > 1045 > 943 > 980 > 983.
I don’t get this
That’s his profit after many consecutive trades.
It was his balance; he mentioned he started with the same amount of money through trading.
Finn said:
983 > 1005 > 967 > 1037 > 1006 > 998 > 1045 > 943 > 980 > 983.
That’s how my trades were looking last week, but this week I’m in profit + regained my initial deposit so don’t give up.
Consult my mentor and go over the trades that I struggled with.
For me, it depends. Not all losses are bad. If you stuck to your trading plan and it just didn’t go your way this time, then it’s not a bad loss. On the other hand, if you broke your rules, that’s different. For me, this is why it’s so important to keep some sort of daily review system to recognize in real time if a trade loss was just a normal loss or if I’m starting to go on tilt. I use daily report cards for this, where I grade my performance on key factors based around my trading plan, and it has helped me tremendously.