I'm in a bit of a losing streak and my mind is not thinking clear enough right now to make solid trades. The best thing you can do when you encounter a big loss or a losing streak is to STOP TRADING. No not permanently but take a break from trading. A week or two to get your mind right. It really is true when they say losing breeds more losing. We've all been there when we take a big loss or too many losses in a row and want to "win your money back". Unfortunately the market doesn't care how much or how many times you lose. Revenge trades are never a good thing. They cause you to take trades your normally wouldn't. Taking a break from trading is an opportunity to study more and get your mind right. Read over your rules a dozen times, review your strategy, analyze your trades...whatever it takes to get your mind clear. I should have done this a long time ago but like most traders, I'm stubborn. I will still be watching the market everyday but I will not trade for at least a week because I know I've been overtrading and my account is suffering because of it. My goal is to become profitable by the end of the year and at this rate I'll blow up if I keep going the way I'm going. I need to study more...a lot more.
Good recognition and don't be afraid to go into papertrading to hone your technique too!
Thanks Tim...I just finished How To Make Millions and I'll be going back to watch it again.
Yeah I'm papertrading, I held SRAX over the weekend, see what happens.
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