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Best way to recover from a big losing day??
- Thread starter gimp570
- Start date
Quote from Szeven:
I try to gauge situations by thinking "in x amount of time, how much will this situation effect me?"
So, i have a bad day and lose lots of money. I think, in 24 hours, how much will this sting? In a week, will i even care? In 2 months, will I even remember?
If you are a profitable trader, a big loss doesnt mean you lose money, it means you lose time. Positive expectancy will always make you new money, but it will take longer to get to where you want to be.
After i calm down, i go back over what happened and attempt to not repeat that set of decisions. (this isnt always clear, and doesnt always work though, of course)
Good post.
The best thing to do after a big loss or a big win is just to trade normal. Market does not change just because you lost big money.
If this is too hard for you to do, then second best is just to take few days off and then trade as normal.
Market is always there, and it doesn't change just because of you.
If this is too hard for you to do, then second best is just to take few days off and then trade as normal.
Market is always there, and it doesn't change just because of you.
Smoke some good weed, get nice and relaxed. Then the next day trade 3x your normal size on a good setup.
PJ Clarke's for happy hour, an 8-ball, the Palm Too, and the Hustler Club. When you are done, go home and call an escort.
Before Happy Hour, go over your journal for the day and find your mistake. Think of being on the other side of whatever trade it was and imagine how happy you'd be with that execution. Remember someone out there is laughing at you. Nothing like humiliation to get you motivated. Do your reasearch for the next day and then start with a double scotch.
Before Happy Hour, go over your journal for the day and find your mistake. Think of being on the other side of whatever trade it was and imagine how happy you'd be with that execution. Remember someone out there is laughing at you. Nothing like humiliation to get you motivated. Do your reasearch for the next day and then start with a double scotch.