How To Deal With Trading Losses
Trade for the right reasons:
If you trade based on fundamentals and specific reasons that are in line with a broader strategy, then when things go badly you will have the reassurance that you made the initial trade for the right reasons. Avoid trading on emotion and hype.
Learn from your mistakes:
In every failure you get to choose your response. Choose to respond by learning from your mistakes by being critical of the decisions you made.
Start small:
After a big loss your psychology might not be at its best, start with smaller positions and build back up. It might even be beneficial just to watch the market and make hypothetical trades.
Everyone makes mistakes:
Realize everyone makes mistakes, nobody can have a perfect trading record. Understand that you are human, learn and keep moving forward.
Do not lose more off emotion:
Lastly, you will often have the urge to make another trade to make your losses back. This is the worst psychology to be in because you are letting emotion govern your trading decision making.
Congratulations @depth! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPIf you want to support the SteemitBoard project, your upvote for this notification is welcome!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @depth! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @depth! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit