5 things that will help you deal with trading losses.
Sadly, I cannot imagine trading without experiencing losses. They are the crucial part of the process. Some say that without them you can’t fully experience the joy of winning. And I am going to agree with them. But for us losses are something that we have to deal with. And sometimes it is extremely difficult.
So, how do we deal with losses and go on?
1. Go on.
2. Do not invest too much attention in them.
3. Understand the consequence.
4. Do not be afraid of fails.
5. Know you can succeed.
1. Go on.
Yes, exactly. We need to know that what happened is already in the past and that we can’t improve the situation that has already happened. Just move on. Although I know that it is easier said than done.
2. Do not invest too much attention in them.
Every athlete is going to tell you – if you focus to much on losses, you are not going to be able to go in the field once again. Ever. And that is not what you want from your trading career. You want it to be long and fruitful, not short and bitter. And for that to really happen you should never focus on your losses. You are simply going to run out of your attention span if you are looking only at the bad stuff.
3. Understand the consequence.
I have already touched this – if you lose and stay focused on the loss you are not going to be able to go into trading once again. And that is going to cut your trading career, where you might reach success, incredibly short. That is the consequence of putting too much pressure on yourself by remembering every fail you had. Understand that focusing on fails is not going to do you any good and draw from there.
4. Do not be afraid of fails.
Of course, no one wants to fail. And no one purposely looks for failures. But in the end we all are going to face them. And we need to be prepared for them, not dread the time when they might occur. Fearing them will make you make more mistakes and as a result fail even more frequently. It is better to accept the fact that they are inevitable and make your peace with it.
5. Know you can succeed.
It is the most crucial point. You need to know that you can be successful no matter the losses and fails. You need to tell that to yourself even if you are failing for the third time in row, sooner or later [although the sooner the better] you are going to find your style and your strategy that is going to work just fine for you and your wallet.
So, losses are inevitable but there are a lot of ways for us to deal with losses and just go on to being successful.
