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 ?
All traders have experienced the same thing as you, whether you admit it or not, I'm sure we have. When we get consecutive profits then we continue to trade and experience consecutive losses too, this is actually about controlling emotions and discipline. I also often experience the same thing, but after learning from experience at least I can control myself and can manipulate losses when getting profits stop for a while, and vice versa. Because traders when emotions are unstable greatly affect the decisions taken.
At least we as traders must have principles like this, can create a simple trading strategy, can control money management from strict risks and can control emotions to remain stable. Rather than you have many principles of many trading strategies, can't do money management, loose risks and emotions still go up and down. It sounds simple, but it's not that easy to do. However, if you are consistent and disciplined in implementing this, mistakes like that will not happen again.