Quote from: Freepips on February 06, 2025, 07:45:21 PM

Quote from: pawanjain on January 30, 2025, 06:07:44 AM

Just as the title says, what do you when the day is not good for you and whatever trade you pick goes against you ?
I was making consistent profits from last 3-4 days but I guess today is not my day.
I picked a trade and lost but then recovered the lost and made profit in second trade.
I could have exited with profits but then I thought of making more profits but the rest 3 tades I picked were on the losing side.
Thus I ended up losing all the profits made in last 3-4 days. Please don't start with greed related stuff but how do you deal with the day ?

First of all loses is inevitable in trading. Therefore what to do when you are experiencing those losses is very important. Before you take a trade you should be able to determine your risk and be willing to accept it. To me if I loss 2 trades on a roll I stop trading for the day. Reduce the number of trades you take daily. 1-2 trades daily is fine if you loss one and win one you are good to go. Another things I do is I go back to my trading journal to check why I took the trade and what is the cause of the loss.

You are definitely right and this is something that all traders should be knowing specially newbie ones because you will be finding yourself that having that tons of mistakes if you wont really be that realizing on whats the thing that you are currently dealing on with. Trading does involved on dealing up with a market which is really that volatile on which trading analysis could neither be that a win or lose trade. In the moment or situation where your trades goes against you then it will be that recommended that you should be setting out that back up plans on which we know that whenever we do have that losing trade then its important on putting up into your journal and trying out to check on whats the wrong thing that happened.

Trades could neither go with the analysis you do have or you would really be able to go opposite on which means that setting out some stop loses or making up some max loss trade per day will be that advisable and thats why its really that important that patience and emotion control would really be that relevant because once you cant be able to do such thing then it will be that affecting out overall decision making and on how to deal up with the market.