leyton11
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May 29, 2020, 03:09:00 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. When losing continuously, we should stop. Sometimes the market doesn't follow your plan so stopping is the best option. In fact, trading is like playing cards. There will be days when you keep winning and there will be days when you keep losing. It is important that you know where the stops are. I have an advice for you, when your account lost more than 10% of your account, you should stop and take a short rest. because at that time you were unlucky and your trading strategy was not effective at that time. Come back when you feel good.
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iv4n
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May 29, 2020, 04:27:53 PM |
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snip
When losing continuously, we should stop. Sometimes the market doesn't follow your plan so stopping is the best option. In fact, trading is like playing cards. There will be days when you keep winning and there will be days when you keep losing. It is important that you know where the stops are. I have an advice for you, when your account lost more than 10% of your account, you should stop and take a short rest. because at that time you were unlucky and your trading strategy was not effective at that time. Come back when you feel good. Taking a break is one of the best things we can do after losing too much! It's the same thing when you lose in gambling, sometimes it's better to stand up and do something else for a while, when you chill and cool your head you can continue! It's the best, but many times I get in fire after losing a lot, and I am ready to deposit again and try more aggressive approach, that is pure gambling, you can recover and make a profit or you can lose one more deposit! What you do after losing depends on how cool you can be after that. I often get in the fire, it's excitement and it's what I like actually, when things get hot and you can win or lose a lot. Don't get me wrong, it's one of the reasons why I like to trade and gamble! Without it there's no fun!
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davinchi
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May 29, 2020, 04:29:07 PM |
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Try to recover them but tracing back your steps and you will find where you did the mistake.
If you can learn the mistake and what caused it, you could learn how to not do it again and that is more important than profit sometimes. That is why I have always said to people that learn how to trade by losing, because losing is the best teacher you could ever have in trading world, when you lose you find out a method that doesn't work, you will eventually find the best way for you (there are many ways) and become a good trader.
Without losing, if you only win, eventually you will come across a lose that will wipe out all the wins and that will hurt you more, but if you lose beforehand when its small, you will learn how to win and grow bigger without interruption (at least not too much).
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adzino
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www.Crypto.Games: Multiple coins, multiple games
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May 29, 2020, 07:06:16 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 thought those who trade and does investment are always prepared mentally to make losses. I mean, its not like those people always make profits. Obviously, there has been a time where they made losses and are now used to it and knows how to "handle" everything. I would say, try to keep a positive mental attitude. Its going to help you a lot during cases like this.
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Bright_dhykseen (OP)
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May 29, 2020, 08:14:55 PM |
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When losing continuously, we should stop. Sometimes the market doesn't follow your plan so stopping is the best option. In fact, trading is like playing cards. There will be days when you keep winning and there will be days when you keep losing. It is important that you know where the stops are. I have an advice for you, when your account lost more than 10% of your account, you should stop and take a short rest. because at that time you were unlucky and your trading strategy was not effective at that time. Come back when you feel good.
Being aware of youe emotions and knowing when to stop is something else entirely. Not everyone knows this. Taking a break is one of the best things we can do after losing too much! It's the same thing when you lose in gambling, sometimes it's better to stand up and do something else for a while, when you chill and cool your head you can continue! It's the best, but many times I get in fire after losing a lot, and I am ready to deposit again and try more aggressive approach, that is pure gambling, you can recover and make a profit or you can lose one more deposit! What you do after losing depends on how cool you can be after that. I often get in the fire, it's excitement and it's what I like actually, when things get hot and you can win or lose a lot. Don't get me wrong, it's one of the reasons why I like to trade and gamble! Without it there's no fun!
I remembered back then, i really never wanted to take a breaak from the market cos i was so addicted. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Try to recover them but tracing back your steps and you will find where you did the mistake.
If you can learn the mistake and what caused it, you could learn how to not do it again and that is more important than profit sometimes. That is why I have always said to people that learn how to trade by losing, because losing is the best teacher you could ever have in trading world, when you lose you find out a method that doesn't work, you will eventually find the best way for you (there are many ways) and become a good trader.
Without losing, if you only win, eventually you will come across a lose that will wipe out all the wins and that will hurt you more, but if you lose beforehand when its small, you will learn how to win and grow bigger without interruption (at least not too much).
More the reason why i never regret accounts i blew; they all came with a lesson. I thought those who trade and does investment are always prepared mentally to make losses. I mean, its not like those people always make profits. Obviously, there has been a time where they made losses and are now used to it and knows how to "handle" everything. I would say, try to keep a positive mental attitude. Its going to help you a lot during cases like this.
Definitely no one wants to take losses. We all come into the market with the mindset of making huge profits.
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Quidat
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May 29, 2020, 08:53:34 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 thought those who trade and does investment are always prepared mentally to make losses. I mean, its not like those people always make profits. Obviously, there has been a time where they made losses and are now used to it and knows how to "handle" everything. I would say, try to keep a positive mental attitude. Its going to help you a lot during cases like this. Should not easily give up but it is actually a hard thing to be done but not an enough thing for you to surrender if you do just experience a few losses. All people who do jumped into investment arent 100% fully aware on the risk of losing thats why some of them are shocked on what they do experience and directly wont able to come back after that one.The goal here is to lessen the risk as minimal as possible, we cant totally eliminate it but with proper trading skills and emotion handling we can really do it right.
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Haneefah
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May 29, 2020, 09:40:47 PM |
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You just have to take every loss as a lesson you get back up and try again. You shouldnt let it get to you thats what i have seen about trading if you start drooling about that one loss you might even get to loose more
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TimeTeller
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May 29, 2020, 09:49:52 PM |
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You just have to take every loss as a lesson you get back up and try again. You shouldnt let it get to you thats what i have seen about trading if you start drooling about that one loss you might even get to loose more
In my case, if I lost in trading for a certain coin, I tried not to look back. I don't check the prices again, I just moved on. That's what I learned whenever I finished the trading. Because if I will check the price over and over again, it really messes up my head. So once I'm done with the trading, I go to another exchange or just log off in my account. Losing is part of the trading life, so just accept that in some days you will have bad days.
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Shasha80
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May 29, 2020, 11:31:16 PM |
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Having a loss is a sure thing that happens if we trade, so we must be able to handle losses in trading. Many ways we can do to deal with losses. Including controlling emotions when trading, using the stop-loss feature, buy coins that have high volumes, avoid over trading and don't take profits too big. If the tips I mentioned are done well. I'm sure we can definitely handle losses.
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goaldigger
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May 29, 2020, 11:54:13 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. Losing your hard earned money is very difficult to deal with but of course you have to be more professional when it comes to trading so you won’t lose that much. I always set my cutting loss price so I can minimize my losses and its very effective so the next time I trade it should be base on my homework, and not just by any speculation. Stop putting too much emotions on your trading, be professional and be a winner.
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TitanGEL
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May 30, 2020, 03:54:32 AM |
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I treat losses as a win! It is seems like ironic but I really do. Yes, there still frustation and irritation when I lose but I see the advantages of losing. Mistakes can make us a better trader, I believe that we are not going to become a professional trader if we will treat mistake as a lesson. Losing is part of the game, if we want to survive in trading we should get used to it.
Remember that trading is a game of possibilities, there is a really a times that we can lose. But remember that we should onle have 3 results in every trade and these are: win big, win small and lose small. We should avoid losing big because it is really hard to regain our losses especially if the trend is against us.
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michellee
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May 30, 2020, 07:02:24 AM |
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Having a loss is a sure thing that happens if we trade, so we must be able to handle losses in trading. Many ways we can do to deal with losses. Including controlling emotions when trading, using the stop-loss feature, buy coins that have high volumes, avoid over trading and don't take profits too big. If the tips I mentioned are done well. I'm sure we can definitely handle losses.
If many traders know about that, they will have the opportunity to handle losses in trading, and they don't have to worry if they cannot make a profit again because they will have their time to make it again. But sometimes, our emotion becomes bigger when we see the price can jump to the very high price so that can make us want to wait for another higher price which can lead us to get stuck if the price is back to the lower price. That is greedy that will come to every trader who doesn't know how to close their trade when they can make a profit.
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rodskee
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May 30, 2020, 07:05:19 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. If you are investing your money for Food in table,then you must felt like that but if you are trading here in crypto with knowledge then there is no chance that this will across your mind because for sure you already know the option and risk of investing here in this volatile market as many of us already have this idea so we can smiloe after losing in our trading.
And why need to feel like this?Psychological effect?nope it can't be possible if we only invested what we can afford to lose. Remember that Crypto is volatile so any time we can experience Failure but on other side we can have be a successful trader just let your mind explore and accept things that may come our way,and if you cannot afford day trading then shift to HOLDING.
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Bright_dhykseen (OP)
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May 30, 2020, 09:26:08 AM |
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I treat losses as a win! It is seems like ironic but I really do. Yes, there still frustation and irritation when I lose but I see the advantages of losing. Mistakes can make us a better trader, I believe that we are not going to become a professional trader if we will treat mistake as a lesson. Losing is part of the game, if we want to survive in trading we should get used to it.
Remember that trading is a game of possibilities, there is a really a times that we can lose. But remember that we should onle have 3 results in every trade and these are: win big, win small and lose small. We should avoid losing big because it is really hard to regain our losses especially if the trend is against us.
Great point! had a twist at the beginning ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) but i get the point. I think the three results are: Win, loss, and Break-even. If many traders know about that, they will have the opportunity to handle losses in trading, and they don't have to worry if they cannot make a profit again because they will have their time to make it again. But sometimes, our emotion becomes bigger when we see the price can jump to the very high price so that can make us want to wait for another higher price which can lead us to get stuck if the price is back to the lower price. That is greedy that will come to every trader who doesn't know how to close their trade when they can make a profit.
Knowing when to take profits is a skill on its own. Greed effect sets in every now and then. Just focus on a reasonable target.
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Jating
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May 30, 2020, 10:29:43 AM |
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Knowing when to take profits is a skill on its own. Greed effect sets in every now and then. Just focus on a reasonable target.
Yeah, and it's really hard to learn it, others have experience but it's not a the only thing that will let you know when to get out. I guess one strategy that I use is to have a exit plan, at least if I have achieved my it, I will simply get out and not look back. No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end.
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BitcoinTurk
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May 30, 2020, 11:07:54 AM |
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I usually prevent me from losing more money by taking care not to make more transactions when I lose money while trading. In addition, I do not neglect to rest myself for a few days in case of a serious loss, and thus, I get my next transactions calmly and comfortably and get a return from those transactions. Also, since I use stop loss when trading, it can be quite easy to save the money I usually lost. If you lose money while trading, all you need to do is calm down a little and re-analyze more calmly. In this way, you can earn the money you lost in your next transactions.
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Bright_dhykseen (OP)
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May 30, 2020, 12:00:58 PM |
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Knowing when to take profits is a skill on its own. Greed effect sets in every now and then. Just focus on a reasonable target.
Yeah, and it's really hard to learn it, others have experience but it's not a the only thing that will let you know when to get out. I guess one strategy that I use is to have a exit plan, at least if I have achieved my it, I will simply get out and not look back. No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end. Exactly!. Take your profit and don't look back!
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lienfaye
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May 30, 2020, 12:01:06 PM |
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Everytime I experience losses in trading, I calm myself by turning my attention into other things so that I cant think deeply the losses and the mistakes I did. When I was still new I cant handle losing my money and it makes me depress, however as time goes by I learned to accept the unfortunate situation and do better the next time. Because in the end I realized through that losses you will learn something. Its best to only use the amount you can afford to lose so it wont be hard to accept having losses.
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bearexin
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May 30, 2020, 05:05:28 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. It has not been an easy thing to do man. There are times I will be trading and lose a money that I don't want to lose, I will end up feeling really bad that day. When we are not getting practiced to losses in trading, passing the day after a loss will be feeling like leading life in Hell. I can remember the day I lost money and I couldn't even eat lol ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) . I was just there feeling really bad. Well, that was in the past, I have learnt a lot and also how to manage my risks. I think anyone that wants to be a day trader or even an investor should learn risk management, it will help them a lot. You should know the level of risk you can tolerate and stick to that level. This time around when I lose money I don't bother much, because I know I will still be able to cover up in few days.
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ScamViruS
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May 30, 2020, 05:36:43 PM |
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I have already suffered huge losses many times in trading. But I did never give up. I have tried to find out every mistake and try to build my own trading skills. I took a big break so that I could make myself better again. When a trader makes a loss, he tries to find out his mistake. By doing this, he prepares himself so that he does not make the same mistake in the future. Every trader faces losses, but those who can correct their mistakes at once are made good traders. Traders cannot handle their own losses and cannot prevent themselves from making the same mistake again, they cannot be good traders.
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