Taking consecutive losses in trading has led to a lot of blown accounts.
Losses affects us psychologically and doesn't make us think logically.
Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses?
Share your experiences and techniques, this will be helpful.
Losses affects us psychologically and doesn't make us think logically.
Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses?
Share your experiences and techniques, this will be helpful.
I had experience that before last year, when I made some bad decisions on trading with Bitcoin and altcoins. During that time when I lost a lot or missed that opportunity, I had nothing but regrets and I'm kinda emotional that time. It makes me think that I should quit in crypto trading.
However, if I just quit crypto trading, it wouldn't make me improve as a skilled trader. As for my way in handling losses, I just keep myself that I can get back that money anytime and profit one day. I focus on being productive rather than thinking about the losses, which makes me move on from it. I also admit that I am not skilled enough to be a trader, so I had to educate myself.
Platforms like NewsCrypto, Youtube videos from crypto influencers, TraderCobb and so on have helped me a lot to improve my skills as a cryptocurrency trader. At least I know that the next time I'm going to occur losses, I know what to do by just focusing on being a productive guy and thinking that this loss is just normal and I had to live with it.
I also had a mindset that I'm expecting more losses than profits. In that way, I won't get disappointed and being emotional too much.