Post
Topic
Board Trading Discussion
Re: Recovering losses
by
Mpamaegbu
on 07/04/2021, 10:36:52 UTC
To start  with, only book traders (those who don't do actually real live trading) will say it's not good an idea to chase losses in order to recover from lost trades. This is because they truly don't know what the compulsion of recovering losses feels like.

But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
A bad work man always blames his tools. Being under stress is the number one factor a trader should look at for. A stressed mind isn't equipped to make rational decisions. Being stressed out is analogous to being under pressure to deliver (in this case, it's under pressure to make profit). Every trader has their winning streak as well as a losing streak. What matters at the end is the ability to record more wins than losses at the end of every trading engagement. There is no trader who doesn't suffer losses. Just understand that.

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
Great idea but it came a little bit late. If you had taken that decision a year ago you would've been in real wealth now. It's too risky to want to try that now, except you want to risk buying at ATH. Already, it's looking like the alts season is come upon us now. We know how Bitcoin dips whenever alts rally. It's not a great idea to go all out on Bitcoin now.