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?
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 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 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.
Telltale20 posted: I go for a short run every 3 hours. This really helps me keep focused
I believe a short break will not help ReignFX or to solve the issue. Most likely the trading system parameter needs to be closely monitored and to be improved in order to: timing, targets, stops, set ups for entry and perhaps managing open position. This is very serious and requires time for investigating, testing and implementing.
A short break will help clear your mind so you can think straight ,then as said above look at your trading, sometimes the market can through out lots of false signals for awhile till it resumes to normality, what I do is trade the smallest lot size just to stay in the market and feel it changing.
Yes, take a break (recommend at least one week). Think of everything else, except for trading. Resolve your personal issues, set your mind free. Psychological calmness is very important for the trading process. After you come back from the break – you will be able to focus better, fix your strategy and continue even stronger than before. Good luck!
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