How To Overcome Losing Days in Forex Trading

[moonchild]

I had a losing day this week and I lost around 40pips in my account and it kind of put me off for some hours, but after I take time off from the chart and go to sleep the next day I woke up energetic and also had an incredible trading day.

What I observed from my experience is that trading days are normal part of trading and they should be accepted as that and also should not interfere with your process, if you take a loss or hit your daily maximum loss, get up and call it a day.

Failure to do this will make you revenge trade and end up losing your account and mess up your trading psychology.

 

[FinTrader]

I stop my trading when I get two stop losses in a row. And I don’t continue to chase the market, because I understand that I can make even more mistakes and, accordingly, increase my loss. The next day I analyze these losing trades to understand what went wrong. And only then do I continue to trade, taking into account these errors and their causes.

 

[FXOchartist]

Facing consecutive losses can cause psychological disturbances. It's better to stop trading and not take revenge. I usually close the trading platform and do other things so that my mind is fresh again, the market is still active. It is also important to evaluate trading and analyze what mistakes caused the failure, perhaps these factors could be internal or external, this is very helpful for improving subsequent trading performance.

 

[FinTrader]

I would add that if such unprofitable days in trading occur quite often, then you must definitely reconsider your trading strategy, try to supplement it and improve it, and not just rest after unsuccessful trades and then trade again using this strategy with renewed vigor. In this way we can gradually improve our trading analysis and our trading.

 

[Leah Kelvin]

Traders must be disciplined and resilient in dealing with days that threaten to end their careers in forex trading. As such, they should remain calm at all times, analyze trades for better performance, stick to a trading plan, handle risk effectively, wait out the long period of time necessary for them to succeed.

Concentrate on how you trade, seek help from experienced traders and stay positive while getting over unprofitable days trading foreign exchange. Be self-disciplined and wait patiently; always keep improving your abilities thinking about defeat as stepping stones to success as you continue growing your career in currency market trading.

 

[FinTrader]

To improve the quality of trading, you can use information resources. For example, the analytical blog from fxopen has a lot of information about the technical and fundamental analysis of many trading instruments, which discusses the reasons and justifications for the movement of assets in one direction or another and the possible development of the situation in the direction of price movement.