When not yet ready to use a standard account, the micro account is a good option for learning, using a micro account is really different from a demo account, emotion in the real account will be involved, while in a demo account no emotion at all.
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What according to you is an effective way to deal with losses when you have a bad week/month ?
- Thread starter Raheel Shaikh
- Start date
Exactly! Ups and downs are part of trading, so it is common for a trader to experience a bad week or month. The right approach at that time would be to do exactly what you have mentioned. I can say so because I’ve done the same when I was dealing with a string of losses.I think a trader having a bad week or month should not think too much because having too many thoughts will make things only worse. The right thing to do would be to take some time off from trading, clear the head, find and fix mistakes in the trading strategies and maybe then, try to trade again, preferably a micro account.
taking break is definitely the best way to deal with trading losses cause continue to trade while you are frustrated will just lead to more mistakes
taking break is definitely the best way to deal with trading losses cause continue to trade while you are frustrated will just lead to more mistakes
Trading breaks surely helps but some things which work for me to get over trading losses are as follows:
- Accept losses.
- Review your position and lots.
- Review each loss.
- Recalculate your stop loss levels
- Review your exit strategy.
- Control your emotions.
- Use a trading journal.