Yes. A guy with only 100 % winning streaks must be the king of trading. Warren Buffet, Jim Simons or even Bobby Axelrod does not have anything on a guy with that track record....
Losing Streak
- Thread starter RogueTrader92
- Start date
Yes. A guy with only 100 % winning streaks must be the king of trading. Warren Buffet, Jim Simons or even Bobby Axelrod does not have anything on a guy with that track record....
Only 110 % winning trades? That's what I call a rookie number. I get at least 130 % of mine correct...
It's already been said, but take time off. I lost every day last week. It's the first time that's happened in years. But my losses are so small, it's just not a big deal financially, but my head needed a break. So what do I do today? I went to visit a friend who was just diagnosed with stomach cancer. He's in good spirits, but he kept saying he doesn't plan on being around in a year. That's a losing streak you never recover from.
Trading is just a game. Losing streaks suck. But keep it in perspective.
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First thing you need to do is stop the losses. You do this by first reducing your trading size, taking smaller positions. In this way, you’ll be trading your smallest position size when the trading is worst.
Secondly, stop trading altogether when you reach a certain predetermined loss limit in a day, week or month.
Winning streaks will come back, but you need to survive the losing streaks.
I reduce my bet size after several consecutive losses, and continue to reduce it until I am down to the minimum lot size as the losing streak continues. For example if day trading ES, reduce down to 1 contract, and then switch to MES if the losing streak continues.
Take a break and re-analyze or just do something else entirely. Also, you can cut bet sizes so that you will be less effected.
There's one trader who always cut his bet size into half after every losing trade. He said he does so even of it means placing the bare min to trade. And he doubles back every winning trade.
There's one trader who always cut his bet size into half after every losing trade. He said he does so even of it means placing the bare min to trade. And he doubles back every winning trade.
I do not constantly earn 1-2% of the deposit per day. I even lose more often, but at the end of the month I am in profit. It is still impossible to live on this money, but I am trying hard. How do I deal with days when I am not meeting my goals? I just stop trading as soon as I reach my set day loss. And the next day I start over. I am not doubling in any way - this cannot be done, as it looks like fighting the market and gambling. I just start the day all over again, as it will be yesterday there was nothing. I have a plan and I repeat it in cold blood. At first, I had nervous breakdowns, I thought that I was smarter and should win back. I was breaking the mouse and keyboard out of nervous breakdowns. And now I just make my plan every day as if nothing had happened. If I lose several days in a row, I rest, go for a walk with my family. And then again, as if nothing had happened.
i feel you. but dont ever think that it cannot be done. its not gambling nor its a casino. back test your strategy. i learnt the hard way about position sizing. IT CAN AND IT WILL BE DONE.