How to control your emotions after series of losses ?

[duderex]

Babypips and youtube provide learning material for newbie, you can start learning from there before practicing with demo account. Thus you might have the foundation of trading before doing.

 

[stpstaff]

A "series" of losses whilst not optimal, varies on it's need for concern, dependant on the strategy you trade. Trading a high probablility strategy and suffering a "series" of losses can definitely mess with your head. Bottom line is PREPARATION - the strategy you trade should have a win/loss ratio as a matter of record BEFORE you trade it. If the ratio remains within the strategy's parameters after the losses - relax. Ensure you have traded the strategy to the letter of course. If you're NOT trading a strategy or the strategy isn't performing......mmmm - maybe time for a re-think!

 

[perryfx]

Babypips and youtube provide learning material for newbie, you can start learning from there before practicing with demo account. Thus you might have the foundation of trading before doing.

Agree. However, similarly we should pay more attention on trading psychology. That is a major part of forex trading.

 

[Rambo35]

Well I would like to know your thoughts on how to react when you faced series of losses in forex. In my case I will stop trading about 03 - 04 days and come back again. If not "revenge" always come to my mind and I may blown my whole account.

I would determine what caused me the losses. In case it was my strategy I would try to find the problem and fix it, in case it was not due to my strategy I would keep trading according to it. Sometimes you juts have a rough patch and have a few losses, it is part of trading.

 

[itkraze]

I will tell about my strategy when I get successive loss. I feel to trade more and get my money back but it lead to more loss quite often so I have planned a new thing that I leave the market for some days and then came back fresh.

 

[elisab]

I'm looking for the confirmation of my strategy among dozens of charts. If this strategy does not work on any trade then I make some changes, otherwise I convince myself that it was just bad luck and I start again more convinced than ever.

 

[perryfx]

I will tell about my strategy when I get successive loss. I feel to trade more and get my money back but it lead to more loss quite often so I have planned a new thing that I leave the market for some days and then came back fresh.

This is a very good strategy to minimize the loss and risk.

 

[FringFX]

I will tell about my strategy when I get successive loss. I feel to trade more and get my money back but it lead to more loss quite often so I have planned a new thing that I leave the market for some days and then came back fresh.

Taking some time off is very beneficial. However, if a trader's strategy or overall plan is flawed or incomplete, losses would continue to pile up. In this case, taking a break is just a minor help.

 

[Whitesnake]

I feel that the best way to avoid losses after losing the money is better to close the trade for the day. First of all its suggested for the traders that they trade by controlling their emotions so that they do not get into losses. Thus, be more realistic in your approach and make money.

 

[itkraze]

The real thing is capital that decide the emotion factor. If we have large capital then the money management is easy because we will be getting a good return on small position size but with small capital we want to earn good and use high lots that cause more losses.