Overnight,
I am not sure why you have so many likes on this statement, but it doesn't sound like good advice.
A loss will eventually occur.
How to Handle Loss
- Thread starter remogul92
- Start date
I am not sure why you have so many likes on this statement, but it doesn't sound like good advice.
A loss will eventually occur.
It was sarcastic humor.
Overnight,
Be Careful playing around man before you mess a newbie head up and send him/she down a bad path of direction. What is bad about your post is that many Liked it. And the comment you made was stupid. You do not know the OP level of trading education to be offer such stupid advice.
Everything is with context, Simple. Look at the posting history of the OP.
https://www.elitetrader.com/et/threads/how-to-handle-loss.335219/#post-4911650
I hope it proves to the OP that solutions to psychology issues cannot be solved by asking others on a BBS for pointers. And I am also assuming the OP has a modicum of common sense, and understands the nuances of inTerW4Bz spe3Kz.
If this poster loses all of his money because of my one post, then I suppose it was meant to be, because if you think about it, that would be pathetic.
Indeed. I need a MB degree from the SBA.
Decrease the amount you're risking; keep decreasing until it doesn't bother you any more, and only increase it when you feel a positive itch for doing so. Shift to sim, or stop trading for a while if you need to. Go do something special for yourself that will get you back on track - go to a comedy club, have a great dinner, indulge in wild monkey sex (h/t previous posters), take some recently-legalized mind benders (safe ones, please; you need that gadget between your ears to continue trading)... whatever shifts you out of the mental state you're in and gives you a full reset.
One that's specific to my own head, but may work for you: do something that gives you a feeling of successful completion (high chance of success even if the "return" is low.) Then do it again, until you have a number of wins in a row. This works for both maintenance and resetting. E.g., I climbed the Great Sand Dune here in Colorado yesterday, and I'm still seriously high from doing it... and I'm doing pretty well at dealing with some adverse (not trading related) events in life.
Again, from my personal experience: desensitization works. You gain equanimity and perspective with experience. Just gotta make sure it never mutates into indifference.
Good luck.
One that's specific to my own head, but may work for you: do something that gives you a feeling of successful completion (high chance of success even if the "return" is low.) Then do it again, until you have a number of wins in a row. This works for both maintenance and resetting. E.g., I climbed the Great Sand Dune here in Colorado yesterday, and I'm still seriously high from doing it... and I'm doing pretty well at dealing with some adverse (not trading related) events in life.
Again, from my personal experience: desensitization works. You gain equanimity and perspective with experience. Just gotta make sure it never mutates into indifference.
Good luck.
I find the key is to be very focused on the research and execution of the trading plan but be indifferent with the result of the next trade or series of trades. Not always easy to achieve but that is my goal.