How to break out of a funk
May 09, 2017 at 06:32
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15 Replies
Biedrs kopš
6 ieraksti
May 09, 2017 at 06:32
This last week or so have just been rough on my trading. Seems like every trade I make goes bad. I know everyone loses at times, but it seems like I just can't get a win. On average, I win about 70 percent of my trades. Is anyone else having a hard time lately?
ajackson713@
Biedrs kopš
522 ieraksti
May 09, 2017 at 11:33
ReignFX posted:
On average, I win about 70 percent of my trades. Is anyone else having a hard time lately?
Hello,
This means that your T/P level is much less then S/L level or 30% loosing trades erase the profit from 70% winning.
Perhaps at this time would be better to stop trading for a while and to track what is the reason for the current result: bad timing or wrong money management and etc.
This is not perhaps so easy, but everyone is passing trough similar stage. Maybe you will need to improve something!
Biedrs kopš
6 ieraksti
May 09, 2017 at 12:10
My problem is definitely choosing bad entry points. I've decided to take a week off because I just haven't been seeing the charts clearly. I think emotion got the best of me.
ajackson713@
Biedrs kopš
1487 ieraksti
May 09, 2017 at 13:30
It happens to everyone occasionally. My advice is to simply not trade for a while and rest. A few days or a week or so, but rest your mind and then go back to examine the charts with fresh eyes.
Biedrs kopš
522 ieraksti
May 10, 2017 at 12:03
ReignFX posted:
My problem is definitely choosing bad entry points. I've decided to take a week off because I just haven't been seeing the charts clearly. I think emotion got the best of me.
Hello,
If you find out the reason, then after the pause would be good to move back to demo or to reduce the trading lot size significantly, because the next task in front of you could be to improve your timing and to protect your account - not to make more money.
Biedrs kopš
1487 ieraksti
May 14, 2017 at 11:55
Good point. Focus on risk and money management and then worry about profits.
Biedrs kopš
4 ieraksti
May 15, 2017 at 12:36
Just trade with your money management and forget everything .
When i start with FX a IB broker teach me and send me good management. I keep it and this thing help me a lot.
When i start with FX a IB broker teach me and send me good management. I keep it and this thing help me a lot.
Biedrs kopš
1487 ieraksti
May 15, 2017 at 12:40
I don't think that any amount of good money management can help you if you're in a bad place emotionally. Getting out of that isn't always easy.
Biedrs kopš
30 ieraksti
May 16, 2017 at 07:24
mlawson71 posted:
It happens to everyone occasionally. My advice is to simply not trade for a while and rest. A few days or a week or so, but rest your mind and then go back to examine the charts with fresh eyes.
I completely agree with this it happens to everyone some or the other time. However, in such situation taking a break is the best way out. Review your strategy and come up with a re-defined trading plan inclusive of all the money management techniques and with a mind set up to give a fresh start.
Biedrs kopš
1487 ieraksti
May 16, 2017 at 12:12
(labots May 16, 2017 at 12:12)
I think it's also a good idea to have some other regular activity purely for fun and relaxation when you're not trading - it helps with not getting into a funk to begin with.
Biedrs kopš
12 ieraksti
May 17, 2017 at 06:50
I go for a short run every 3 hours. This really helps me keep focused
Biedrs kopš
522 ieraksti
May 17, 2017 at 11:10
Telltale20 posted:
I go for a short run every 3 hours. This really helps me keep focused
I believe a short break will not help ReignFX or to solve the issue.
Most likely the trading system parameter needs to be closely monitored and to be improved in order to: timing, targets, stops, set ups for entry and perhaps managing open position. This is very serious and requires time for investigating, testing and implementing.
Biedrs kopš
1948 ieraksti
May 17, 2017 at 11:39
A short break will help clear your mind so you can think straight ,then as said above look at your trading, sometimes the market can through out lots of false signals for awhile till it resumes to normality, what I do is trade the smallest lot size just to stay in the market and feel it changing.
"They mistook leverage with genius".
Biedrs kopš
1487 ieraksti
May 17, 2017 at 13:40
Regular short breaks are a good thing when it comes to one's emotional condition, at least. Actual Forex strategy is obviously an entirely different matter.
Biedrs kopš
427 ieraksti
May 28, 2017 at 07:35
Yes, take a break (recommend at least one week). Think of everything else, except for trading. Resolve your personal issues, set your mind free. Psychological calmness is very important for the trading process. After you come back from the break – you will be able to focus better, fix your strategy and continue even stronger than before. Good luck!
Accept the loss as experience
Biedrs kopš
1487 ieraksti
May 28, 2017 at 11:21
It's also a good idea to analyze your previous errors after you return from your break, because the distance would've given you a new perspective in order to find out what went wrong.
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