Suggestion DEALING WITH TRADING LOSSES

[benkal]

1. ACCEPT:-The losses were the past
- The Opportunity is in the future

2. ANALYZE: What was the cause of the losses? Be be honest with yourself.
a. Was it you?-Poor risk management
-Lack of discipline
-Not following trading plan/rules
b. Strategy; does it need tweaking?

3. PLAN : Make a plan, test it, tweak it and trade it!
"It takes as much energy to WISH as it does to PLAN"
"If you fail to plan, you plan to fail"

4. ACTION: Trade your strategy and keep learning, you will always be a student of the markets.
"The distance between your DREAMS & REALITY is called ACTION"

5. ABSORB: Become a part of a successful community of traders and become a sponge.

 

[mlawson71]

Thank you for the advice! I wish anyone had told me this when I was first starting.

 

[johnere]

6. LEARN: learn programming and statistics and all will be easier

 

[benkal]

Thank you for the advice! I wish anyone had told me this when I was first starting.

you welcome

 

[gjisef]

I think we should practise before using real acount.

 

[benkal]

I think we should practise before using real acount.

obviously, knowledge first, money will be a by-product. PROCESS BEFORE OUTCOME

 

[Adda]

Becoming part of trading community helped me massively during drawdowns.