Quote from: tygeade on December 24, 2021, 07:23:47 PM

Quote from: Mpamaegbu on December 24, 2021, 08:30:32 AM

as for the number of consecutive losses; five will be the alarming figure to make me take a pause.

Five? That must be a dangerous approach as it may risk most of your capital.

Quote from: Finestream on December 24, 2021, 08:33:39 PM

~snipped~

Yes, five! The first thing every trader should do is take care of MM (Money Management) and their emotion. We all have different temperaments and that seem to show while trading. Trading is more of practical reality than paper work. A profitable trader is supposed to be stoic and stick to their trading plans and not jump from pillar to post in confusion at every little shake in the market. You don't have to start panicking when you lose two mere trades if your MM is right. As a profitable trader, you don't have to win all trades to be profitable. Traders who panic at every little thing are those who've their MM messed up and over trade. Losing on a second count and then you start panicking means you expect to win all trades. Nah! That mindset is what makes a lot of traders panic trade. Always make room for losses as a trader. Whether you do that or not, losses will come. The market is no respecter of anyone.