How do you handle your losses?

bigdolly

Sergeant Major
Messages
865
Only a good trader can handle loses. You should have to be patient while doing a trade. Whenever loss occurs you have to recover it with a great technique. Patience is a key to success. This is the main reason behind every successful trader. There is no other way around.
How do you personally control your emotions and employ patient approach in trading? Do you use some rules or automated software which restricts impact your emotions on trading?
 

RachelEB

Private, 1st Class
Messages
48
How do you personally control your emotions and employ patient approach in trading? Do you use some rules or automated software which restricts impact your emotions on trading?
There is no automated software that can control your emotions.
Have a trading plan and trading rules that you stick is a good starting point, so that you are not making impulsive decisions on the spot.
 

AndrewBlack

Highly Suspicious Person
Messages
29
I learn myself to take loos easy. Cause firstly, there no particular reason to cry (or whatever people do when they loose). Money is just money. What more important is whether you analyze your mistakes and improve yourself according to the analisis.
 

OksanaChyzh

Banned Spammer
Messages
32
Pretty easy actually! Just learn from my own fails. I don't see any reason to react in some emotional way. That's how market works. Sometimes you loose and it's a good way to become stronger and more skillful!
 

bigdolly

Sergeant Major
Messages
865
There is no automated software that can control your emotions.
Have a trading plan and trading rules that you stick is a good starting point, so that you are not making impulsive decisions on the spot.
basically I'm talking about the same let the automatic software make trading decisions according to predefined rules you there won't be any need in controlling your emotions. the less is human involvement in the trading process the less mistakes we can expect.
 

Gateluri

Recruit
Messages
41
Be careful with EAs, and try not to rely heavily on it. They might be profitable for some time, but on a long run, they are destined to make losses. However, don’t panic, just keep your robot under your control
 

bigdolly

Sergeant Major
Messages
865
Be careful with EAs, and try not to rely heavily on it. They might be profitable for some time, but on a long run, they are destined to make losses. However, don’t panic, just keep your robot under your control
Well if you check accounts stats everyday and providing that it makes reasonable amount of trades in a day (like 20 or less), you can easily control losses.
 

Esannniki12

Recruit
Messages
37
I think trading is a game of covering up losses. Whenever I lose on Forex market in the form of a failed trade then I try to know why it happened to me. After finding the right answer, I try not to make that mistake again. This is my basic strategy and everyone must have to do the same.
 
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