The pain.

Discussion in 'Psychology' started by indahook, Jul 28, 2006.

  1. 10 losing trades in a row...a new personal worst.

    My previous losing streak record was 7 last year.

    Martingale or take a break?

    I know the answer, I just want to see how flamed I get!


    Venting over...
  2. I've had 14 losers in a row, but my worst so far was 16 out of 18 trades. It's all part of the distribution. As long as you understand WHY they're losing and know the conditions are atypical, I wouldn't get too excited. In my case it led to a small change to stop trading when volatility levels dropped. Haven't seen anything that bad since. Keep on keepin on.
  3. Your fine, just stick to the probabilities say to double up for the next 10 trades! :)
  4. Uh, yeah...when you're demonstrably out of sync, that's when you should increase exposure...?
  5. I do.

    My trading journey so far has been 3 steps forward, 2 steps back. 4.5 years down...many more to go.

    Thank you for the words 40y/oTrader.
  6. Qwerty


    Provide details on where you bought or sold Indahook, how can you be helped if you don't provide this information? We learn from our mistakes you know.

  7. you know I was kidding....right? :D
  8. My apologies. More often than not, I'm not particularly astute.
  9. fttrader


    As you said, you know the answer.
    The temptation is to try something different rather than keep what system you've developed and recheck your loss management plan. More often than not it's the implementation that needs fixing.

    Just as well it's the weekend, huh.
  10. Been there, done that, repeatedly.
    This is the cost of doing business, unfortunately. What I've observed in emotional traders is:

    1) losing streaks break confidence big time, and it is difficult to accept that they are statistically inevitable.
    2) wins peppered with losses test the trader's patience
    3) winning streaks make many traders too confident in their ability, while what really happened is they are simply experiencing a run-up that is statistically inevitable.

    If you feel emotionally exhausted, take a break. One week away from trading won't really affect your long-run P/L. Just know that a key fundamental to successful trading is suppressing ALL emotions that tend to creep up, even in the most stoic of us.

    Good trading,


    P.S. If it makes you feel better, I was short 24 contracts of Euro FX this a.m and stopped out for 50-pip loss when the GDP numbers hit the market. I don't know what kind of size you trade, but for me that's a $15,000 hit. It's never fun.
    #10     Jul 28, 2006