How to go through a LOSING STREAK better? PART 2
🍑5. Review the trades of a losing streak. Are they high-quality trades? Did you make any mistake compared to a high-quality example of your trade plan? Would you retake these same trades, even knowing they are losers? If
🥥6. Most traders who are still learning, and after a loser, tend to become emotional (fearful, frustrated, angry, etc.) and start to act based on emotions, not an actual plan they had. This can be conscious when you understand you’re making mistakes, but your emotional brain takes over and you still overtrade, tilt or over risk. Or it could be unconscious when you believe you’re doing the right things.
So how do you do it? Be aware of your emotional triggers, have a mental journal and step by step learn to RESIST this desire to revenge and place another trade. It’s a long process, but with commitment, it’s possible to achieve.
🍏7. Coming out of a losing streak, reduce risk or stop trading for some time.
No overrisk! Remember how you blew multiple, if not all 100% of accounts because of overrisk, and out of multiple attempts to earn with overrisk it never ever worked. Or maybe it “worked” very short term like and then you risked more again and lost it all.
You overrisk because it gives the possibility to earn big and quick, and then feel better, or because you’re seeking pleasure (greed) or want to avoid pain (fear)
When you create fantasy, you create fear of missing it out
To keep your mind balanced you need to work on it every day, it’s not a given fixed thing. It’s achievable only in “now” and it should be sustained and nurtured.
Short-term gratification, long-term pain. Short-term pain, long-term gratification
🥥6. Most traders who are still learning, and after a loser, tend to become emotional (fearful, frustrated, angry, etc.) and start to act based on emotions, not an actual plan they had. This can be conscious when you understand you’re making mistakes, but your emotional brain takes over and you still overtrade, tilt or over risk. Or it could be unconscious when you believe you’re doing the right things.
So how do you do it? Be aware of your emotional triggers, have a mental journal and step by step learn to RESIST this desire to revenge and place another trade. It’s a long process, but with commitment, it’s possible to achieve.
🍏7. Coming out of a losing streak, reduce risk or stop trading for some time.
No overrisk! Remember how you blew multiple, if not all 100% of accounts because of overrisk, and out of multiple attempts to earn with overrisk it never ever worked. Or maybe it “worked” very short term like and then you risked more again and lost it all.
You overrisk because it gives the possibility to earn big and quick, and then feel better, or because you’re seeking pleasure (greed) or want to avoid pain (fear)
When you create fantasy, you create fear of missing it out
To keep your mind balanced you need to work on it every day, it’s not a given fixed thing. It’s achievable only in “now” and it should be sustained and nurtured.
Short-term gratification, long-term pain. Short-term pain, long-term gratification
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