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

[SimpleMeLike]

Exactly Overnight,

noones trades real money for nothing other than making alot of money.

 

[Raheel Shaikh]

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.

Yes sir
adapting and refining always stays constant through out
at no point you can take the foot of the gas that's where the losing streak of days continues for weeks and months making the portfolio in red

 

[Raheel Shaikh]

i prefer meditating or going out for a jog after doing my journal

sometime i take i my bike out and go a long ride by myself this is usually when im giving my best and still the odds are not in my favor

just be out by myself and relax with the nature

sounds like the perfect therapy for the mind

 

[yana hansen]

You're right yana, Revenge trading one of the biggest reasons for people to lose their accounts and quit trading
if you know the 90/90/90 rule, that's exactly the start cause of it.

Yes, I am aware of the 90/90/90 rule. You’re right, the root cause of revenge trading is 90% of the traders losing 90% of their money in 90 days.

 

[Raheel Shaikh]

Yes, I am aware of the 90/90/90 rule. You’re right, the root cause of revenge trading is 90% of the traders losing 90% of their money in 90 days.

you got it right my friend

 

[virtusa]

Yes, I am aware of the 90/90/90 rule. You’re right, the root cause of revenge trading is 90% of the traders losing 90% of their money in 90 days.

I don't like one liners, because in general they sound good, they can impress people, makes you sound smart. But in reality most of the time there is not much truth in it, the one liner can even be irrelevant or show that you are not very smart.

It doesn't matter what the root cause is of revenge trading, as a real trader has a trading plan. And in a trading plan revenge trading should NEVER be found. Traders never become revenge traders. They follow their plan.That is the best form of "revenge trading" that exists.

I daytrade and have two systems based on the same principles. One takes fast small profits and has a high winning rate, and the second one goes for the bigger moves. The second one is the main trading plan and the first one is only used to quickly recover from a drawdown.

 

[Raheel Shaikh]

Focus on trailing 10/20/60 day cumulative results rather today's results.

"I lost $3,000 today" feels a lot more painful than "I lost $3,000 today but I am still up $4,000 over the last 20 trading days." Or if I have a bad month, I may look at the last 6 months, and say "this month was bad, but 4 of my last 6 months were profitable."

.

Wise words
This is gonna be an absolute shift once you incorporate this in your trading.

 

[Bandiginn]

The best way to cope with the losses is to understand that losses are an integral part of trading.
First of all, you should know that the markets are unpredictable. Especially if we talk about forex market. There are lots of occasional fluctuations within a single trading session which are impossible to predict. If you follow the principles of money management, then you are relatively safe, however, if you don't, your deposit is in a great danger. Secondly, losses are lessons that you need to learn. As they say, bad experience is still experience. So, even if you had bad streak in trading, you've got to get to the bottom of them. You need to understand the conceptual reasons that made you lose the money.

 

[Raheel Shaikh]

The best way to cope with the losses is to understand that losses are an integral part of trading.
First of all, you should know that the markets are unpredictable. Especially if we talk about forex market. There are lots of occasional fluctuations within a single trading session which are impossible to predict. If you follow the principles of money management, then you are relatively safe, however, if you don't, your deposit is in a great danger. Secondly, losses are lessons that you need to learn. As they say, bad experience is still experience. So, even if you had bad streak in trading, you've got to get to the bottom of them. You need to understand the conceptual reasons that made you lose the money.

Yes sir! Journaling the loses have definitely been one of the biggest game changers and stepping stone towards consistency.

 

[MotionX]

The best way to cope with the losses is to understand that losses are an integral part of trading.
First of all, you should know that the markets are unpredictable. Especially if we talk about forex market. There are lots of occasional fluctuations within a single trading session which are impossible to predict. If you follow the principles of money management, then you are relatively safe, however, if you don't, your deposit is in a great danger. Secondly, losses are lessons that you need to learn. As they say, bad experience is still experience. So, even if you had bad streak in trading, you've got to get to the bottom of them. You need to understand the conceptual reasons that made you lose the money.

Rightly said, I also believe that if a trader gets losses, then he should learn to find ways to avoid them in future instead of doubting their knowledge and trading skills.