Do you remember the moment when all the losses immediately met you in one day? What did you feel at that moment? And how did you overcome it? Do you agree with the opinion that success comes to those who are not afraid to take risks.
If you're worried about your failure rate in trading...then maybe you are gambling. -- just something to think about. Trading isn't, or shouldn't, be treated like gambling...like betting on a color on the roulette wheel.
Do you think that someone that play Russian roulette is bound to succeed ? There is some truth in what you say. But don't take it to the letter. We feel pain for a reason. I've seen crazy guys under drugs. Because they weren't feeling pain anymore. They've done stuff really risky, Close to serious injuries. To succeed you must know what you do. If you know then you don't fear anymore. Don't be bold and crazy. But bold and wise. Take the calculated risk because it's planned. If you don't take it you'll screw up your system. So successful traders know how to cope with their fear. But if you fear that your stop will be triggered out, Then it's that you don't have confidence. Your ship is either robust or fragile. It's all about your ship. Uncertainty will always be uncomfortable. Especially when our downside is unlimited. So cover your butt. And find a viable system, Then apply it no matter you're paranoid or not. If you're really fearful, Must be something to fix there. Don't ignore it but shed light on it. By solving that you'll encounter further fear. Same as before. Repeat. Shed light. Fix. Improve. It's how we improve, by defining and resolving our doubts.
All the years of trading my 401k, I only "remember" three days of losses that have stayed in my memory. One was I had been losing real steady and decided to subscribe to nightly service of what to buy/sell-stops and all. LOL He gave like eight signals for eight different markets, I am figuring "Wow, I am so lucky, I got in before all these calls", put the trades on next day and everyone one of them lost for 6 grand loss, never took another service like that again AND signed up to learn how to program. The next loss wasn't truly a loss, I had ramped up my volume in long term trading and had big Short positions in Energies and had grown to fairly large Open Profits, next day Energies went up like 10% and saw Open Profits change like 100k plus...was mumbling to myself at work all night when I worked for gov't, my co-workers new I was always off center anyway and gotten use to my mental outbursts...they actually rooted when I lost money-and people wonder why I don't like working with people in same room? At some point you have to become numb to it, swings happen each day and I look at it more of trading a two lot in long term no matter the real size. Third loss was right after I decided, and back tested thoroughly averaging down, first week first couple days did as expected then I hit three full losses in a row and lost 8-900k, again I was mumbling at home as with long term, check all the trades to see if I did them right and had, so next day as per rules I cut size to 25% of norm and by 2nd day I was back to full size, took almost two months/half to make it up. Did not change a thing. Knowing now, I should have never gone into day trading as I have/had ADHD/OCD and a number of mental challenges most don't have, I have been able to get rid of the OCD and I go 4 times a year for hypnosis for ADHD and other problems. You can not fully overcome childhood pains, sure you can take meds to get rid of certain problems but then you are a zombie and I can't trade or exist, you learn to adapt, Good friends know how I am, and I try to stay upbeat and motivate others to do better. <<<Do you agree with the opinion that success comes to those who are not afraid to take risks>>> No, I don't agree, some are just plain lucky. I don't look at failure as negative, I look at it as an opportunity to do again and a different way. I view RISK = EDUCATION, and is something is still risky, one is still not educated enough. It is like parachuting, you jump out of plane, screaming my head and ass goodbye as I am afraid of heights, if you think you going to land upright like a statue by letting your knees absorb the landing, they won't and you end up landing hard on knees, ass and cause body is screaming "you dumbass", you are bouncing all over the place, whereas if you land and trying running, chances are body is happy and half the times you don't end up bouncing hard. So what is difference between one and other? Education. As I have said before, you have to prepare so much to have well back tested Trading Plan and have all the answers before the question. Then you have a better chance at succeeding. Only way you can fail is quit. Thank goodness few do this, more moola for me.
Often still los in my trades, because often use swing trading strategy and open order more than a day, because no time to monitoring so after check out again but suddenly my account faced with loss and hit stop loss, get loss make painful actually but we must accepted thase risk
If you are very picky about what trades to take and can handle the boredom of waiting and waiting till the right trade comes along, then you would be surprised just how little you lose when it doesn't work out. Did I just jinx myself? Hopefully not.
Get failure is making painful in heart indeed, especially if get wiped out account it will make regret after loss, but whether these loss then making trader being in desperation, I think will better if also have good mindset abput loss if this is also part in trading