Last edited by Ralph Richard; 18-01-2012 at 11:20 AM.
We all learn from our mistakes people. I thinks it happend to me quite often, that is the main reason for not trading a lot lately, I only trade when the opportunity presents itself. I stopped actually believing in Spread Betting for a living!!!
The best way to defense is to attack. So, the best way to treat a losing trade is to make up for it with a winning one!!!
Sometimes it works out. but the main thing is that when they are finally in plus they close the position right away (with a sigh of relief) and miss on the profits.
For me having a losing trade is all part of the process, having more wins and than losses is the answer especially if the losses are little towards the profits. I struggle with my stop loss to be honest in the beginning so my losses were big and my profit was small but been workings on turning this around.x
I know that we all should take loss as a part of our trading. But how much people can do it? Very few. The fact is that taking loss as a lesson and leaning from it usually takes lots of time. many people want to become rich quickly and dont have patience to learn from losses.
I still struggle with losing trades and get very tempted to chase my losses
A losing trade is a trade that went beyond your Risk tolerance. We all know that all our trades wont be winning trades, so having a stop loss gives you that sense of reality and prevents you from causing a disaster. If your trade doesnt go your way then you are out and you move on..You take a small break and put yourself together before moving on to the second trade. The worst you can do is revenge trade. Accepting this in a calm and disciplined manner will make you a successful trader. I know it is easy to be said..but not impossible.