How to control ourself when we lose money?

formikatrading · Sep 18, 2020

This is something that I have tried and have had success with after bad trades to help get in a better mindset.

https://www.daytradingpsychology.com/positive-neuroprogramming-for-traders/

legionx · Sep 21, 2020

One setup per day

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Bill Marwick · Sep 24, 2020

SunTrader said:
No great mystery. Either you control yourself or you don't.

Which leads to, either you continue to be able to trade or you don't.

Well said. Just have to stay calm even if we incur losses but at the same time, spend some time reviewing as to why you made a loss and try to avoid those mistakes in future.

shadybee · Oct 20, 2020

Scataphagos said:
If you are a properly disciplined* trader, none of this applies.

*Easy to say. Difficult to achieve.

Totally agree here.

Akhaldanos · Oct 20, 2020

Bill Marwick said:
Well said. Just have to stay calm even if we incur losses but at the same time, spend some time reviewing as to why you made a loss and try to avoid those mistakes in future.

Trading is not about avoiding losses at all costs. It is about realising profits. Incurring a loss might not be a mistake. So, why you made a loss? Probably you've exited from a trade that wasn't working. Was that a mistake? Should we avoid that "mistake" in the future?

Jaagup · Oct 22, 2020

Focus on coming back with an even better trading plan when you get anxious after losing money.

Amber_0302 · Oct 26, 2020

Scataphagos said:
If you have proper discipline, nothing "outside" matters.

It's quite a chore to get your brain in proper focus to trade well. Easy to make mistakes (some, serious) until you do.

I totally agree with you. discipline really helps with the trading.

Laura48 · Nov 5, 2020

Forex does not give us same results all the times, some days we loose, while on others we might end up winning huge.
Stay calm in both cases. Especially, when there are losses, need not panic. Rather observe where the mistake is and rectify it for future trades.

Amber_0302 · Nov 5, 2020

Laura48 said:
Forex does not give us same results all the times, some days we loose, while on others we might end up winning huge.
Stay calm in both cases. Especially, when there are losses, need not panic. Rather observe where the mistake is and rectify it for future trades.

You're utterly right. one should stay calm.

christielowe · Nov 23, 2020

It’s better to have a realistic frame of mind throughout. Also, have a full proof risk management system in place.