moonchild
VIP Contributor
How you relate to failure will very much determine your trajectory in life, trading is a game of losses, the market is going to test you, your emotions will taunt you and you'll feel anxious and uncertain about your skillset, what's the best way to handle losses while trading the markets?
The best way to deal with your losses is to detach from them, do not take them personal and always make them quick, do not stay in a trade after a market has shown you you're wrong, get out and position yourself for the next move, holding on to losses is one of the major factors contributing to failure in the industry.
In the book the best loser wins, To. hougaard argued Forex is a losing game and how well you do in the market is totally dependent on how you take losses, it is important to detachbyour feelings from it completely.
Else you'll feel anxious and you'll end up revenging at the market or even averaging down your losses and losing even more money, the best approach in trading is to be patient and wait for your setup, when you see a setup, execute without hesitation and let the market prove you right or wrong.
The best way to deal with your losses is to detach from them, do not take them personal and always make them quick, do not stay in a trade after a market has shown you you're wrong, get out and position yourself for the next move, holding on to losses is one of the major factors contributing to failure in the industry.
In the book the best loser wins, To. hougaard argued Forex is a losing game and how well you do in the market is totally dependent on how you take losses, it is important to detachbyour feelings from it completely.
Else you'll feel anxious and you'll end up revenging at the market or even averaging down your losses and losing even more money, the best approach in trading is to be patient and wait for your setup, when you see a setup, execute without hesitation and let the market prove you right or wrong.
