What do you do when your tades go against you ?
What do you do when your tades go against you ?
Just as the title says, what do you when the day is not good for you and whatever trade you pick goes against you ?
I was making consistent profits from last 3-4 days but I guess today is not my day.
I picked a trade and lost but then recovered the lost and made profit in second trade.
I could have exited with profits but then I thought of making more profits but the rest 3 tades I picked were on the losing side.
Thus I ended up losing all the profits made in last 3-4 days. Please don’t start with greed related stuff but how do you deal with the day ?
That is trading and human nature. It is you that will need to control it. If you make profit, you will be motivated by the winnings to continue to trade.
Be patient and start small. If you have $500, do not just trade all at once. You can begin with $50 and be happy for the little profit. But if the trade is against you, start to use the remaining $450 to average. Not at once but gradually.
Also do not use high leverage.