Quote from: Natalim on August 18, 2024, 11:31:43 PM

Quote from: Aanuoluwatofunmi on August 17, 2024, 08:42:13 PM

Quote from: Gooner0 on August 17, 2024, 07:37:22 PM

We all know how profitable trading can be and how frustrating it can too, but nevertheless never try to get back at the market.
Just because you've lost a lot doesn't mean you next strategy is getting back all your losses on one piece .

We cant chase after losses on trades, if not we may continue to make loses and never have a single opportunity of recovering back, instead, we need to only intensify what we know about trading and improve on our strategies in trading, this may help to an extent, the more we are having a better understanding regarding how to trade and keep improving on our exposures on it, we are going to have more better opportunities ahead of is irrespective of the strategies we have adopted for use already.

Its really impossible to trade with profits every after losses, because even professionals still cannot manage their trades well and still end up losing consecutively. Don’t chase over the market and do revenge. You will never win over a highly speculative trading market. Instead, trade with small funds only so that you can manage your small losses every now and then, and develop more working strategies in case you are losing consistently with your current strategy.

Diversifying your strategies will help SIGNIFICANTLY as a trader. The problem with ppl who use one strategy is that very often they don't get all conditions required to enter a trade. As such, there will be a lot of sitting around. Then the FOMO (fear of missing out) psychology kicks in and they enter trades which don't satisfy all the prerequisites for their strategy. If you have a range of strategies (backtested) and know when and how to use and apply indicators, you will for sure get quite a few trade opportunities and even better, you will have several options when looking for confluences. Risk management should always be employed and this is something that most traders tend not to respect.