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.
A trader cannot always be winning, but making sure your number of wins is higher than your losses makes you a profitable trader. Any day you don’t win in trading, just take that day as your bad day off trading and not aggressively want to get back at the market because it will just make you lose all of your money.
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 ?
Dealing with a day of loss in trading is not something easy at all. We may not call it greed totally because even if I had made some good profits for the day and still saw a good trade set up that I’m optimistic of, I would still want to spare some money on those trades so that I can get more profits. And since we don’t control the market and no trader is 100% right, we may just loss the trade and had to take another loss for the day.
Then seeing another good trade may prompt you to take another one, and when you can’t have the big win, you may still lose another trade to add to your number of losses. This is not greed, but just the market not in your favour that day. For some, they may stop halfway and for some people, they’ll want to trade until they’ve exhausted their capital.