Never revenge the market!
Never revenge the market!
We all know how profitable trading can be and how frustrating it can too, but nevertheless never try to get back at the market.
Just because you’ve lost a lot doesn’t mean you next strategy is getting back all your losses on one piece . No!
First of all you have to see to it that you are psychologically prepared to trade, you need to build confidence..
No matter how much you’ve lost you need to take a break, get your mind off do something that can help build confidence, restrategize
Trade risk free, trade like you haven’t had any losses not like a gambler.
A friend of mine who lost hope in trading was advicing some one else , he said ” if you wanna go into trading you need to have a family doctor close by”
I laughed my eyes out, but in order to avoid the same ordeal he went through I learnt to trade this way, I make sure I bear in mind that no matter the outcome I’m ready for it .
This is how you trade, it’s all about composure, belief etc.
You speak when conditions may be under control but when everything is beyond prediction there will be so much doubt either because you feel unsatisfied or because you are applying the wrong trading technique. Trading involves everything mood, readiness to lose, management in a specified profit percentage and must be able to restrain yourself when you feel the market can still be profitable. Everything that has been planned is not always in your grasp, as you said do not take revenge on the market.