Risk Warning: Trading financial products carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment. Please ensure you fully understand the risks and take appropriate care to manage your risk.
How to Overcome Losing Streak?
While trading in forex market, many traders face losing streak. Losing streak is something that we all have faced. My little effort is to show you what you should do as a trader to overcome losing streak. I promise you that after reading this article you will get some valuable techniques which will lead to trading success.
Many traders are not ready for losing streak. But it’s one of the important aspects of trading. Because that can lead to blowing out trading capital. That’s why it has been a concerning matter. Traders should be prepared and stay ready, because that can happen anytime when traders can’t able to handle emotion and fail to follow the proper system of trading. Losing streak causes panic and thus traders can’t get over emotion.
‘‘No Discipline and Unrealistic Expectations are the top reasons behind the trader’s failure” – Charlie Burton
Overcome Losing Streak
So, what should traders do when losing streaks take place? First of all, losing streaks are part of trading. They are not lovely as they cause hard-worked money. Then, it’s pretty important to assess the condition and prepare to study again to survive in the market. Never give up and that can lead to long term significant trading career. It is only possible by achieving an appropriate trading mindset.
”Fundamental Analysis + Technical Analysis + Appropriate Mindset – That Should Lead to a Success in Trading” – LEX VAN DAM, who is considered as the Most Successful Hedge Fund Manager in the UK.
Appropriate Trading Mindset 101
‘If You Can Learn ‘Self-Control’, Then You Can Master Anything!’ – Anonymous
Read my another article on ‘How To Achieve An Appropriate Trading Mindset?’
Secondly, it needs to find the answer of why losing streaks are happening. Is it only happening because of bad analyzing the trend or not just following the proper trading system? Then the possible problem will be found. To get rid of this situation traders need to acknowledge that having losses are okay and now it’s the time to move on. Because losing streaks can damage trading mindset and having realistic anticipation. So, that’s why traders should refocus on the study and proper trading system. In the meantime, traders should take a break from the market. That will help to gather energy and a realistic hope to rejoin the market. Then it’s time to study chart patterns and price actions, again and again, to read and analyze the charts properly to find out possible best trade entries and to execute them.
Finally, proper chart reading, good entry price, money, and risk management will lead traders to overcome losing streaks. Consecutive 5/10 losing trades do not mean that next 5/10 trades will not be the profitable trade. There is always a possibility to turn around. Just it needs to follow the process rightly.
Final Words :
I hope you’ve found this article useful. If you have any questions, please leave them in the comments below. I’ll do my best to reply.
‘Got Return? Become An Investor’
Make Money Online aims to solve the investment problem of people. Being a part of the ‘Make Money Online Blog’ we provide investment management service in Forex market & Stock market for our customers to generate a higher return on their investment (ROI). It is always better to become an investor.
Our commitment is to always act in our clients’ sole best interest. Our job as your investment manager is to construct your portfolio with the highest quality investments available in order to offer the greatest probability of achieving higher returns. Contact us for more info.
About me : I am Mohammad Amirul Islam Opu. I am the Founder of ‘FINANCE SOURCE (FS)‘. Finance Source (FS), an online based financial institution, is established with multinational collaboration and is started its journey in 2017.