You actually handle these 2 days much better than most traders to be honest.
You’re slightly upset because you didn’t realise the gains you planned for.
But as we say, the first objective of a trader is to stay alive for another trading day.
You’ll make more money on the coming days no worry ;)
This is very true. There's a passage in Mastering the Trade by Jhon Carter that talks about the same thing.
The biggest issue for newer traders is to reprogram their brains into realizing that in trading, losing is winning. A professional trader’s job is to take small losses. Period. Most traders don’t realize that there are only a few days each month where big profits can be made. The rest of the time, traders are doing their job if they’re keeping their heads above water
I'm very much aligned with this trading psychology. Especially when I was trend trading on forex.
Even a 50% trades win strategy could make very good profit, large wins and small losses.
This is something I myself am trying to learn now. There are certain trades when you just know it was a mistake....so minimizing the loss on that one with a bigger profit on another trade to balance the books better!
Ha ha ha this made me crack up! 😂
You actually handle these 2 days much better than most traders to be honest.
You’re slightly upset because you didn’t realise the gains you planned for.
But as we say, the first objective of a trader is to stay alive for another trading day.
You’ll make more money on the coming days no worry ;)
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This is very true. There's a passage in Mastering the Trade by Jhon Carter that talks about the same thing.
Posted Using LeoFinance Beta
I'm very much aligned with this trading psychology. Especially when I was trend trading on forex.
Even a 50% trades win strategy could make very good profit, large wins and small losses.
Posted Using LeoFinance Beta
This is something I myself am trying to learn now. There are certain trades when you just know it was a mistake....so minimizing the loss on that one with a bigger profit on another trade to balance the books better!
Posted Using LeoFinance Beta
Absolutely correct, with a good trade size strategy you will benefit from exiting losing trade earlier.
Posted Using LeoFinance Beta