MY STYLE - BLOG
This is simply amazing. Traders stay quiet and smug while running on the winning trail. But the moment they fall, they get the fear of God and freeze in their tracks like statues. They will stop trading or will trade and get out with 5-10 points profit in their next trade. And see the next long winning run just pass them by.
Why does this happen? Its simple.
When you begin trading you need to have a full strategy or plan. And not trade simply on the fly.
If you do the latter, you will be counting the pebbles, and miss the bigger story completely.
Losses are part of the trading game. On December 1, all my trades were stop loss trades in the morning, but I persisted and won in the later trades, closing with a small profit net for the day.
Budget for losses and profits.If your profit target is 100% your total trading outlay should be 150% which accounts for 33% losses in your monthly profit and loss statement.
Spread this 33% across each week and calibrate your performance on that basis and not by each trade.
Get that emotion out of your mind! and trade objectively. Come to me if you still have a problem.
Abnash Singh, Am a Trader helping small traders to realize their dreams.