A bad week

Sep 21, 2020
21
3
9
22
It's been a slow week so far, I don't think i should call it bad though

Ive had2 SL hits (i use rr tho) and about 5 open trades but they're all still in consolidation
i'm down about 100 pips this week
How do you come back fresh after a bad week?
 
Sep 21, 2020
21
3
9
22
Hello I am new to trading , I am interested to know why traders lose money ?
You can lose money for a number of reasons

1. The most common event among new traders (Impatience):
Forcing trades trying to flip your account. Don't do it, the market will humble you

2. Not checking the fundamentals:
You should always check your economic calendar for any upcoming news that might affect the market

3. Poor analysis:
It happens to the best of us, we make our analysis, enter the trade and suddenly as price is viciously approaching our SL its like you begin to see all the reasons you should have been biased against your direction

4. Reversals:
Sometimes price just straight up reverses after you get what seemed to be "the perfect entry"

5. Stops too tight:
Sometimes, especially during our earlier days, taking a loss was this chest clenching, hair falling out, slide down the wall in slow motion type of thing so we would blatantly ignore all technical analysis principles and just try to make the stop loss as small as possible. 9 times out of 10 price hits your stop loss, and sails smoothly into your TP without you. The other 1 out of 10 you will lose that profit in no time trying to keep those SLs so small

6. Nervous trading:
Much like #5 you're anxious about taking losses (or too big of a loss) so you close out your trade early in red to try and minimize your loss but instead you set yourself up for a world of pain when you see the negative figure in your live account trade history and a massive profit on the demo account entry you forgot to close

Tips:
1. Be comfortable taking losses (visualize your account if it should hit the SL you want to set, if the pain in your chest is too sharp, you're risking too much)
2. Use risk reward and risk management (they help, trust me)
3. Get a mentor to guide you if possible
4. Work on your trading psychology
5. You canNOT avoid losses, if someone has a consistent 100% win ratio illuminati has been CONFIRMED
 

Akwin

Trader
Oct 12, 2020
52
10
9
33
You can lose money for a number of reasons

1. The most common event among new traders (Impatience):
Forcing trades trying to flip your account. Don't do it, the market will humble you

2. Not checking the fundamentals:
You should always check your economic calendar for any upcoming news that might affect the market

3. Poor analysis:
It happens to the best of us, we make our analysis, enter the trade and suddenly as price is viciously approaching our SL its like you begin to see all the reasons you should have been biased against your direction

4. Reversals:
Sometimes price just straight up reverses after you get what seemed to be "the perfect entry"

5. Stops too tight:
Sometimes, especially during our earlier days, taking a loss was this chest clenching, hair falling out, slide down the wall in slow motion type of thing so we would blatantly ignore all technical analysis principles and just try to make the stop loss as small as possible. 9 times out of 10 price hits your stop loss, and sails smoothly into your TP without you. The other 1 out of 10 you will lose that profit in no time trying to keep those SLs so small

6. Nervous trading:
Much like #5 you're anxious about taking losses (or too big of a loss) so you close out your trade early in red to try and minimize your loss but instead you set yourself up for a world of pain when you see the negative figure in your live account trade history and a massive profit on the demo account entry you forgot to close

Tips:
1. Be comfortable taking losses (visualize your account if it should hit the SL you want to set, if the pain in your chest is too sharp, you're risking too much)
2. Use risk reward and risk management (they help, trust me)
3. Get a mentor to guide you if possible
4. Work on your trading psychology
5. You canNOT avoid losses, if someone has a consistent 100% win ratio illuminati has been CONFIRMED
Thank you for the provided information , well noted.
 
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Reactions: altitudesinals

HeavenLeighGill

Active Trader
Aug 5, 2021
389
35
44
28
Sorry to hear about the bad week! Hope things have turned around by now. Personally, I just take time to decompress by reading, sitting outside in nice weather, taking a bubble bath, or anything else that makes me feel calm when this happens.
 

sharabela

Master Trader
Oct 19, 2016
152
9
54
45
Traders often get bad day, bad week or even bad month. It is a part of business. We must not be demotivated but take it professionally. Every day is a new day. Thus, we should look for opportunity not to think about yesterday and regret on that.