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How to break out of a funk

ReignFX
May 09 2017 at 06:32
6 postów
This last week or so have just been rough on my trading. Seems like every trade I make goes bad. I know everyone loses at times, but it seems like I just can't get a win. On average, I win about 70 percent of my trades. Is anyone else having a hard time lately?

BaldoN (BaldoN)
May 09 2017 at 11:33
522 postów
ReignFX posted:
On average, I win about 70 percent of my trades. Is anyone else having a hard time lately?


Hello,
This means that your T/P level is much less then S/L level or 30% loosing trades erase the profit from 70% winning.
Perhaps at this time would be better to stop trading for a while and to track what is the reason for the current result: bad timing or wrong money management and etc.
This is not perhaps so easy, but everyone is passing trough similar stage. Maybe you will need to improve something!

ReignFX
May 09 2017 at 12:10
6 postów
My problem is definitely choosing bad entry points. I've decided to take a week off because I just haven't been seeing the charts clearly. I think emotion got the best of me.

mlawson71
May 09 2017 at 13:30
1487 postów
It happens to everyone occasionally. My advice is to simply not trade for a while and rest. A few days or a week or so, but rest your mind and then go back to examine the charts with fresh eyes.

BaldoN (BaldoN)
May 10 2017 at 12:03
522 postów
ReignFX posted:
My problem is definitely choosing bad entry points. I've decided to take a week off because I just haven't been seeing the charts clearly. I think emotion got the best of me.


Hello,
If you find out the reason, then after the pause would be good to move back to demo or to reduce the trading lot size significantly, because the next task in front of you could be to improve your timing and to protect your account - not to make more money.

mlawson71
May 14 2017 at 11:55
1487 postów
Good point. Focus on risk and money management and then worry about profits.

huuhoney
May 15 2017 at 12:36
4 postów
Just trade with your money management and forget everything .
When i start with FX a IB broker teach me and send me good management. I keep it and this thing help me a lot.

mlawson71
May 15 2017 at 12:40
1487 postów
I don't think that any amount of good money management can help you if you're in a bad place emotionally. Getting out of that isn't always easy.

hjacob
May 16 2017 at 07:24
30 postów
mlawson71 posted:
It happens to everyone occasionally. My advice is to simply not trade for a while and rest. A few days or a week or so, but rest your mind and then go back to examine the charts with fresh eyes.


I completely agree with this it happens to everyone some or the other time. However, in such situation taking a break is the best way out. Review your strategy and come up with a re-defined trading plan inclusive of all the money management techniques and with a mind set up to give a fresh start.

mlawson71
May 16 2017 at 12:12
1487 postów
I think it's also a good idea to have some other regular activity purely for fun and relaxation when you're not trading - it helps with not getting into a funk to begin with.

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