Hello Folks,
Have you ever had a series of losing trades? In the sense that you go in one direction and the market turns in the other direction. You try to quit the trade and enter again only for the market to revise in your previous position or you have had a series of losing trades that you start doubting your confidence in analyzing trade.
I have had this experience and I did nothing more than to quit day trading. I had traded with stop loss and immediately I set the stop loss, it was triggered. I closed at lose. Any time I use the stop lose it looks as if someone is watching the point I set the stop loss and it will be triggered.
The day I did not use the stop loss, I ran into massive losses and that made me to stop using the stop loss and probably stopped trading.
Can you share your experience of how you were able to put up courage and come back to trading? I will also want to inquire what action should somebody take if he/she finds himself in that position.
I didn't put up any courage and probably I didn't return to trading rather I became a buy and hold person. My present stand gives me joy and peace of mind unlike trading that distresses me.
Trading is difficult because of it terms and conditions that a trader must keep or obey to be successful
These three below point are necessary for one's trading journey if you want to be a profitable trader.
1. Discipline
2 . Risk management and
3. Greed.