What do you do when your tades go against you ? - page 2.

pawanjain

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Nothing lasts forever

Quote from: LogitechMouse on January 30, 2025, 02:16:15 AM

Quote from: pawanjain on January 30, 2025, 01:07:44 AM

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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 ?

I'm a bit laughing as I'm making this post because this is the exact same experience that I've experienced back a few years ago.
Making profits in most of my trades and then a single wrong position wiped out all of my profits that I made in days.

What did I do? Hmmm, I simply went out of our house, played anything on my phone or just scrolling on it. Anything just to divert my attention because TBH, you'll feel disappointed in yourself especially if you've experienced it for the first time, and even you've experienced it many times, you will feel disappointed in yourself because you let that thing happen again, and again, and again. That's what I felt at that time. Overtime, those mixed emotions will just disappear like nothing happen and from there, you will decide on whether you will continue to trade or not.

I will not speak about the greed-part because we as traders make mistakes still especially when we trade on futures.

Somewhere in my mind I knew that this is probably the best thing to do.
Divert yourself to other things and take the day off and start with a fresh mind the next day.
I have experienced this earlier too, and experiencing it again and it's always disappointing to be honest.
You must see Lord Wojack on Youtube. It's an animated video series and feels kinda relatable.

Maslate

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Losing is normal mate as it’s just part of the game when you’re a trader. What matters is how you manage your trading capital because that’s the only way you’ll survive and maybe turn profitable in the long run.

You mentioned losing 3-4 days’ worth of profits in just one bad day, Hmmm, that’s a clear sign that your strategy are not followed effectively. You probably got too aggressive trying to recover your losses, and that’s how you ended up losing everything.

It’s pretty typical, it’s just like gambling. Without discipline, you’ll keep chasing losses until there’s nothing left.

LogitechMouse

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Quote from: pawanjain on January 30, 2025, 01:07:44 AM

---
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 ?

I'm a bit laughing as I'm making this post because this is the exact same experience that I've experienced back a few years ago.
Making profits in most of my trades and then a single wrong position wiped out all of my profits that I made in days.

What did I do? Hmmm, I simply went out of our house, played anything on my phone or just scrolling on it. Anything just to divert my attention because TBH, you'll feel disappointed in yourself especially if you've experienced it for the first time, and even you've experienced it many times, you will feel disappointed in yourself because you let that thing happen again, and again, and again. That's what I felt at that time. Overtime, those mixed emotions will just disappear like nothing happen and from there, you will decide on whether you will continue to trade or not.

I will not speak about the greed-part because we as traders make mistakes still especially when we trade on futures.

Oshosondy

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Gamble responsibly

Quote from: shawonngp on January 30, 2025, 01:49:06 AM

I made same mistaken in my last some trades and now I am lost my 80% profits in just two days but I made profits from long time, I can not take it easily I am too disappointed for my last trade lost, my big mistake i used my initial+profits all of money used, i have no backup money for leverage. Now i have no other way to recover it without waiting for pump.

If you want to be using all your money to trade at once, it is better you are setting stop loss. But this way of trading is very risky and most profitable traders in long term will not use it. Profitable traders use small amount of money to trade. I have posted several times on this forum that I do not use stop loss. That is because of the strategy that I use to trade.

As a trader, it is good not to think of ways to recover your money because it will make you become not patient and makes you to go against your trading plans and it can lead to losses. Just forgot about the losses completely.

shawonngp

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Quote from: Oshosondy on January 30, 2025, 01:39:20 AM

That is trading and human nature. It is you that will need to control it. If you make profit, you will be motivated by the winnings to continue to trade.

Be patient and start small. If you have $500, do not just trade all at once. You can begin with $50 and be happy for the little profit. But if the trade is against you, start to use the remaining $450 to average. Not at once but gradually.

Also do not use high leverage.

I made same mistaken in my last some trades and now I am lost my 80% profits in just two days but I made profits from long time, I can not take it easily I am too disappointed for my last trade lost, my big mistake i used my initial+profits all of money used, i have no backup money for leverage. Now i have no other way to recover it without waiting for pump.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

That is trading and human nature. It is you that will need to control it. If you make profit, you will be motivated by the winnings to continue to trade.

Be patient and start small. If you have $500, do not just trade all at once. You can begin with $50 and be happy for the little profit. But if the trade is against you, start to use the remaining $450 to average. Not at once but gradually.

Also do not use high leverage.

pawanjain

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Merit: 716

Nothing lasts forever

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 ?

Topic: What do you do when your tades go against you ? - page 2. (Read 136 times)