Bright_dhykseen (OP)
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May 27, 2020, 05:27:50 PM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful.
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Nathanz
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May 27, 2020, 06:10:48 PM |
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Actually, before I enter trading, I always tell myself that I have to be mentally ready and stable in what will I do because I know that there is a possibility that I will lose my money if I handled it incorrectly. In that way, I set my mind that there is always a possibility that I might lose what I have right now and I have to refrain myself from overreacting because instead of analyzing what I have done wrong, I might just commit another mistake that I'll surely regret. Not just in losing, but also when winning. I also tell myself to not overreact frequently especially when winning because I might do uncertain things that instead of securing money, i will lose it. You just have to know and understand your emotions and you just need to be able to control it in order for you to handle it properly.
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akram143
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May 27, 2020, 06:50:54 PM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Have a limit to yourself about how much loss which you are willing to afford for that day, once you exceeds then just stop the trading activities for a while no matter what you feel inside and just wait for the right time to begin your trading into positive side.You can also use stop loss feature to reduce the risks of getting over blown.
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ironman80
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May 27, 2020, 07:55:40 PM |
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It is very difficult when you have so many successful trades,and then...all of a sudden you lose...But,that is a part of the game,and you have to move on.Tomorrow is another day...
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RealMalatesta
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May 27, 2020, 09:01:03 PM |
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The first time I experienced in cryptocurrency trading, I was still a newbie then and to be sincere I felt really depressed. I was broke then and there were lots of thoughts going through my mind and I couldn’t control it. I just felt like it’s the end of the world. I got really pissed with myself and I started regretting why I ever decided to start trading cryptocurrency.
But later I understood that the fault was from me, because I was trading something I knew nothing about. I didn’t take my time to study everything about trading and how it works, I just heard about it and that people are making money and jumped in immediately and lost my money. I even threw in an amount of money I couldn’t afford to lose because I was trying to double it up. But now I understand everything, although I don’t make much loss these days, when I do it’s not much and I trade with what I can risk.
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Mahanton
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May 27, 2020, 09:14:53 PM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. I wont deny that when i still starting up with trading and do experience losses initially or for some consecutive ones then i do mind of on quitting directly but it do made me realize that i wont really be a better trader if i do just give up so easily.Therefore, i do make up some searches and trying to read and read towards other trading experiences out there and reading up fundamentals and technicals until i do gradually understand on how thing works and how things should be deal on.Your experience would be the best teacher which would really improve you if you do know on how to utilize it well.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Bright_dhykseen (OP)
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May 27, 2020, 09:24:47 PM |
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Actually, before I enter trading, I always tell myself that I have to be mentally ready and stable in what will I do because I know that there is a possibility that I will lose my money if I handled it incorrectly. In that way, I set my mind that there is always a possibility that I might lose what I have right now and I have to refrain myself from overreacting because instead of analyzing what I have done wrong, I might just commit another mistake that I'll surely regret. Not just in losing, but also when winning. I also tell myself to not overreact frequently especially when winning because I might do uncertain things that instead of securing money, i will lose it. You just have to know and understand your emotions and you just need to be able to control it in order for you to handle it properly.
Mental preparation is key. Understanding your emotion is ultimate. Great point! Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Have a limit to yourself about how much loss which you are willing to afford for that day, once you exceeds then just stop the trading activities for a while no matter what you feel inside and just wait for the right time to begin your trading into positive side.You can also use stop loss feature to reduce the risks of getting over blown. Yes, i concur with this. You need to set limits to avoid self-sabotaging beliefs. It is very difficult when you have so many successful trades,and then...all of a sudden you lose...But,that is a part of the game,and you have to move on.Tomorrow is another day...
Losses are part of the game but controlling them will keep you in the game long enough. The first time I experienced in cryptocurrency trading, I was still a newbie then and to be sincere I felt really depressed. I was broke then and there were lots of thoughts going through my mind and I couldn’t control it. I just felt like it’s the end of the world. I got really pissed with myself and I started regretting why I ever decided to start trading cryptocurrency.
But later I understood that the fault was from me, because I was trading something I knew nothing about. I didn’t take my time to study everything about trading and how it works, I just heard about it and that people are making money and jumped in immediately and lost my money. I even threw in an amount of money I couldn’t afford to lose because I was trying to double it up. But now I understand everything, although I don’t make much loss these days, when I do it’s not much and I trade with what I can risk.
We all evolve. I always try not to blame the market for my mistakes too. I can always do better Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. I wont deny that when i still starting up with trading and do experience losses initially or for some consecutive ones then i do mind of on quitting directly but it do made me realize that i wont really be a better trader if i do just give up so easily.Therefore, i do make up some searches and trying to read and read towards other trading experiences out there and reading up fundamentals and technicals until i do gradually understand on how thing works and how things should be deal on.Your experience would be the best teacher which would really improve you if you do know on how to utilize it well. Quitting is never the best option! you will feel more pain when others that started after you quit becomes successful in it. I'm happy you gathered the experience. It pays quite well.
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chaser15
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May 27, 2020, 09:29:32 PM |
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Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Sad, Regret, Sat at the corner, Sleep, Energized. Come back the other day - when I lose big. Trading losses make me feel dehydrated and want to break for at least 24 hours. I will just allow those regrets and disappointment to come to me. After I came back to my feet, I will now analyze what's wrong. On what action I messed up. Then I will prepare again for a comeback. But again, that only applies when I lose big. For those average losses, it can't really affect me at all. I called it just another day in the office.
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Bright_dhykseen (OP)
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May 27, 2020, 09:42:09 PM |
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Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Sad, Regret, Sat at the corner, Sleep, Energized. Come back the other day - when I lose big. Trading losses make me feel dehydrated and want to break for at least 24 hours. I will just allow those regrets and disappointment to come to me. After I came back to my feet, I will now analyze what's wrong. On what action I messed up. Then I will prepare again for a comeback. But again, that only applies when I lose big. For those average losses, it can't really affect me at all. I called it just another day in the office. I feel almost the same way. In my case, i just dont want to see anything that looks like a chart not even a candlestick till i feel better ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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LUCKMCFLY
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May 27, 2020, 10:19:39 PM |
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Losses in trade should be seen as normal taking into account that it does not exceed 10%, in trade you win and lose, the important thing is to learn why it was lost and why it was won, that is the correct way to grow in trading. I always make 3 trades, of which at least 1 must be successful, this to guarantee success always, now if the 3 trades are lost, the strategy or the way of analyzing the market must be completely changed.
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milewilda
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May 27, 2020, 11:24:37 PM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Speaking of blown accounts then i experienced several times but i did never give up to go further not on the sense of desperation but i do make myself trying to look on what are my mistakes that i have done when im doing trading and causes for me to have losing position.When you do figure it out then try to overhaul everything and reinvent other ways.This would really involved lots of trial and error because not every strategy would really work if you do tend to make use of it.It is up to a person on how he handle up his self when he experience loss because emotion is always there and discipline into your self and handling out your capital is the most crucial in trading career.
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Bright_dhykseen (OP)
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May 28, 2020, 12:27:15 AM |
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Losses in trade should be seen as normal taking into account that it does not exceed 10%, in trade you win and lose, the important thing is to learn why it was lost and why it was won, that is the correct way to grow in trading. I always make 3 trades, of which at least 1 must be successful, this to guarantee success always, now if the 3 trades are lost, the strategy or the way of analyzing the market must be completely changed.
I can't preach enough of this. The need for proper risk management. I disagree with changing your strategy or method of analyzing the market. You are meant to be consistent with your approach in the market. Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. Speaking of blown accounts then i experienced several times but i did never give up to go further not on the sense of desperation but i do make myself trying to look on what are my mistakes that i have done when im doing trading and causes for me to have losing position.When you do figure it out then try to overhaul everything and reinvent other ways.This would really involved lots of trial and error because not every strategy would really work if you do tend to make use of it.It is up to a person on how he handle up his self when he experience loss because emotion is always there and discipline into your self and handling out your capital is the most crucial in trading career. Exactly! More the reason Journaling is necessary in order to look back on past mistakes. Understanding and handling oneself is crucial.
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The Cryptovator
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May 28, 2020, 02:27:49 AM |
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As you mentioned losses effect is psychologically, I am agree with it and that's why it's quite complicated overcome losses. Because all logical thoughts become inactive for quite sometimes after lost fund. But the main thing to overcome losses is patience, cool mind traders probably gainer than normal traders who couldn't control emotions. We should explain yourself during losses that we will gain on another trade, so just learn from your past mistake that you have done with lost trade.
I know it's easy to say but difficult to do, but fortunately there is no other way. Don't trade a single with your all portfolio funds, at least divide it by four and trade different coins or just hold your funds rather than buy single coin. You may trade multiple coins but more than three isn't suggested at a time (depends on funds limit) and better play with only couple of your favourite coins. Besides that study more and learn market analysis by yourself, don't depends on signal providers.
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Wexnident
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May 28, 2020, 04:16:09 AM |
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Have a limit, set a goal to achieve, and well, accept that anything you've started trading is already lost. Especially having a limit and a goal, those are especially important if you aim to trade in the long run. It wouldn't matter much if you're a rich kid aiming to become richer by trading since losses can be neglected cause of your rich-kid status, but if you aren't, losses are something you have to accept, you have to take in, and you have to understand. Don't avoid losses but rather study them and prepare measures to ensure that you won't turn crazy by doing so. Sad, Regret, Sat at the corner, Sleep, Energized. Come back the other day - when I lose big.
Trading losses make me feel dehydrated and want to break for at least 24 hours. I will just allow those regrets and disappointment to come to me. After I came back to my feet, I will now analyze what's wrong. On what action I messed up. Then I will prepare again for a comeback.
But again, that only applies when I lose big. For those average losses, it can't really affect me at all. I called it just another day in the office.
Or you can just do this. Honestly most tips are absolute bs since most people have their own way of coping up to losses, even I can't handle my losses that well even though I follow the tips I just said. Bottom line is you should do something to make yourself calm down after losing so much. That's basically it. The way you do it isn't probably important, as long as you know, it doesn't go over line like killing people to calm down, but anyway, as long as you calm down, you can basically do anything. If trading after losing so much calms you down, you can do so tbh.
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drlukacs
Sr. Member
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l0tt0.com
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May 28, 2020, 05:00:17 AM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. I have read Dr. Elder's book and he always has a 6% rule. If you trade continuously but the entire order is at a loss, your account number has decreased by 6% then he advises that we should leave the market briefly. The first is to stabilize the mentality and look back on your mistakes. Then review your trading system and correct those mistakes. When the psychology stabilizes, we return to the market again to trade.
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Blue_oxen
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May 28, 2020, 05:40:45 AM |
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Taking consecutive losses in trading has led to a lot of blown accounts. Losses affects us psychologically and doesn't make us think logically. Just wanna know how you get yourself back in right state of mind after taking a loss or better still, how do you handle losses? Share your experiences and techniques, this will be helpful. I have read Dr. Elder's book and he always has a 6% rule. If you trade continuously but the entire order is at a loss, your account number has decreased by 6% then he advises that we should leave the market briefly. The first is to stabilize the mentality and look back on your mistakes. Then review your trading system and correct those mistakes. When the psychology stabilizes, we return to the market again to trade. True! I always set a loss-limit for myself at 8% of the transaction. At the time I lost more than 8%, I'll cut the loss - jump out of that transaction and wait until it's stable to re-join in again. You have to do your mind-set, having a strong mindset helps a lot in cryptocurrency trading!
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maydna
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May 28, 2020, 06:08:56 AM |
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The new traders will not concern about the losses because they attracted to trading after they read many success stories. They are not ready to get losses in trading, but they have a passion for trying trading. Perhaps, we can suggest them to be aware of the consequences of the trading itself, and we always tell them that trading has two option, profit and loss. They need to prepare for anything that might happen in the market, so they know what they need to do if they are in hard situations.
I know and realize the consequences to get lost in trading because I already make many losses before. I only say to myself that I need to calm down first if I get lost, keep trying to analyze the other coins and don't regret the loss that I got. I am sure that if this day we lost, it doesn't mean that we will get another loss in the next hours or next days. Managing our money will be necessary if we can not see a big loss happen to us in a second, so we still have money to buy more amount if the price is down.
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onrise
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May 28, 2020, 06:13:05 AM |
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I had set some rules before trading so I know how much I can loose it or have capacity. Also I have a stop loss always set so that even it triggers it is a limited loss . In trading , one always can’t make money and you will incur losses as well and should be ready for it .
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Ridwan Fauzi
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May 28, 2020, 06:46:54 AM |
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I often to find the situation and usually I just left the market and find some entertainment like watching movie or hang around.
Because if I force myself to keep trade whereas I have lost a lot of money it can't make me got a lot of profit but it will be an opposite.
I need a clear mind when I see the market back. I have to make an evaluation as well for my experience later. At least I can avoid it and being a learning when I trade back.
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CarnagexD
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May 28, 2020, 07:02:46 AM |
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You are having a bad shot mate on trading it is better if you will take a break because it is the hard times in trading and one of the things I usually do that you can adopt too is taking a break for meantime and analyze the situation why you lose up your funds and it is more convenient also it helps you to make understand what is your mistake. Also use the trading indicators those are one of the best things you should use on trading but we have different techniques for me I'm using the Moving Average Convergence Divergence (MACD) because it is easier for me to understand the next kind of market movement. Also losing is part of trading that all of the professional traders already experience that kind of problem. You should take a rest for a meantime.
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