What according to you is an effective way to deal with losses when you have a bad week/month ?

[maxinger]

I'd blame myself for the losses.

Stop trading for half a day.

Then go and exercise at double the usual duration
so as to clear my mind.

 

[Karin42]

I believe that the best way to deal with your losses is to regard them as an opportunity to learn.
First of all, you should admit that your trading strategy has some drawbacks which prevent you from making profits. This step is the key one because without admitting the problem, there is no chance that you'll ever correct your mistakes. After admitting it, you've got to start looking for the exact place in your methodology that lacks something. I would advise to forget about real trading and concentrate on finding the weak chain of your strategy. You'd better decompose the decision making process that you've got and see, what causes your losses.
So, if you have a long streak of losses, you should understand that the problem lies in your strategy and you should change your systematic approach to trading.

 

[Raheel Shaikh]

I think it depends on the context really. If you started something, fooled around, half assed, then failed...you should feel bad and put it on yourself. To Make losing painful is healthy IMO. On the other hand, if you did everything right, planted a good crop, tended to it appropriately, and a few days before harvest a hail storm destroys it all...you deserve a day or two of heavy drinking and self pity.

To answer your OP: Resolve + Gratitude

Resolve = ill do it or die trying, never quit attitude. It is a good way to overcome doubt when you know you want it and you know that you wont quit. Reflect -> improve -> try again. repeat process one more time forever.

Gratitude is a direct counter to despair. To overcome thoughts like: I don't have this, im not good enough at that, I suck, why didn't I do that etc...you have to focus on the positive pole of the scale: I am thankful that I have the ability to learn and improve myself. I have another day alive in a country that allows me to pursue my own interests, I have a family that loves me and wants me to succeed, etc...

Starting each day with a gratitude journal is one of the most effective things i have ever done in terms of improving my attitude and outlook each day. I takes discipline, nobody wants to do it, but i think it is worth it.

Finally A little bonus tip from someone who has suffered a great deal from trading failures, my main man Les Brown taught me that its possible. It might not be likely, but it is possible to improve your skill, get better, stronger, wiser, etc...It is reassuring to ask the question that if others have done it, then why can't I? It is possible to succeed if you are willing to change...its all about change.

Well said buddy,
being grateful and humble for the opportunities we have rather than the things we don't is the key to a happy lifestyle.

 

[PursuitOfEdge]

+1 it's a learning opportunity. This is usually when I feel a sudden burst of creativity and motivation to start testing new strategy ideas lol. Often only to find that I am unable to come up with anything better than what I already have, which gives me the confidence to continue trading through the drawdowns. In the off chance that I actually do find something new, then it is very rewarding and I gladly add it to my collection.

 

[tiddlywinks]

I think it depends on the context really. If you started something, fooled around, half assed, then failed...you should feel bad and put it on yourself. To Make losing painful is healthy IMO. On the other hand, if you did everything right, planted a good crop, tended to it appropriately, and a few days before harvest a hail storm destroys it all...you deserve a day or two of heavy drinking and self pity.

To answer your OP: Resolve + Gratitude

Resolve = ill do it or die trying, never quit attitude. It is a good way to overcome doubt when you know you want it and you know that you wont quit. Reflect -> improve -> try again. repeat process one more time forever.

Gratitude is a direct counter to despair. To overcome thoughts like: I don't have this, im not good enough at that, I suck, why didn't I do that etc...you have to focus on the positive pole of the scale: I am thankful that I have the ability to learn and improve myself. I have another day alive in a country that allows me to pursue my own interests, I have a family that loves me and wants me to succeed, etc...

Starting each day with a gratitude journal is one of the most effective things i have ever done in terms of improving my attitude and outlook each day. I takes discipline, nobody wants to do it, but i think it is worth it.

Finally A little bonus tip from someone who has suffered a great deal from trading failures, my main man Les Brown taught me that its possible. It might not be likely, but it is possible to improve your skill, get better, stronger, wiser, etc...It is reassuring to ask the question that if others have done it, then why can't I? It is possible to succeed if you are willing to change...its all about change.

I agree that is a good post. +1

For me however, one word clarifies the situation and reorganizes my mindset. That word is...

NEXT!

 

[hedyellsworth]

@Raheel_Shaikh When you accept that losses are inevitable then you naturally get the emotional strength to cope with the losses. It’s very important and at the same time difficult to take responsibility for your loss while blaming it on other factors is comparatively easy. I’ve learnt that only by owning my mistakes truly, i can learn from them. If the loss seems too overwhelming to me I take a short break from it. Try to find out where I fell short and make a better plan. I’ve realized that not balancing the emotions may often lead to revenge trading.

 

[diabolique]

Take a break + Research and then come back with fresh mind.

 

[Raheel Shaikh]

@Raheel_Shaikh When you accept that losses are inevitable then you naturally get the emotional strength to cope with the losses. It’s very important and at the same time difficult to take responsibility for your loss while blaming it on other factors is comparatively easy. I’ve learnt that only by owning my mistakes truly, i can learn from them. If the loss seems too overwhelming to me I take a short break from it. Try to find out where I fell short and make a better plan. I’ve realized that not balancing the emotions may often lead to revenge trading.

Yes sir absolutely
balancing emotions is the most valuable lane on the road to consistency.

 

[antonialira]

Whenever I encounter a situation where my trades aren't turning out to be profitable for 3 straight days , I switch off my pc for the remaining week. I spend some time out with my friends and family. Work on my strategies, clear my mind and try to have a positive mindset for the upcoming trades. Never get worked up in forex trading. It kills the rhythm.

 

[algoseek]

Here is my two cents: Whatever you do, don't engage in revenge trading.