bad streak

Beginner questions(part 1)

I have been trading for a long time, but sometimes I notice that I think for a long time before entering the action in situations that have already been 1000 once. If I hadn't thought for so long, did not miss good entries and the result was better. Answer: There is no pill in this situation, which will immediately "heal" you. Is there any pattern for making such mistakes, which you could recognize?For example, it can be some specific phrases, with which you can convince yourself of something. Maybe, situations, where are you making a mistake, typical and repetitive? Think, what do you need to track somehow, may be, write down, every such case, when you "talked" yourself into making the wrong decision. Analyze the decision making process, to find, where are you fooling yourself. When will you deal with this, you will need to recognize such situations when trading.

How to recover as a trader during a losing streak

Most of the material is already for traders who have been trading for more than a year and have started trading in a plus, but beginners will also have useful moments. This course is designed for people who are broken and lose heart., no desire to trade anymore and do not believe in themselves. For my almost 3 years of trading on the NYSE were 3 times black bars and I was recovering from them . The most important thing in trading is your emotional state.. You must be in harmony with yourself and have confidence in your actions.. Often people start working on mistakes during a losing streak., but they are not psychologically ready to earn.

What is the difference between a statistical drawdown and a psychological one??

Have you ever had a time getting into a situation?, when losing trades follow one another? You suddenly start to panic., and think, that it never ends? But how strong is this drawdown? Maybe, you just panic for no reason? Maybe, you turn statistical drawdown, which can always happen, into the psychological, what not to do? Statistical drawdowns need to be predicted. If you are using a reliable trading system, then the law of large numbers is on your side. From the point of view of statistics, there is nothing to worry about in a series of losing trades.. Since a large number of trades gives you a statistical probability of making a total profit. It's okay, to get a series of losses. It's just a matter of probability. If you don't take it personally, and just keep on lying to the system (managing risks), sooner or later everything will change, and the system will return to profitability. However, some traders turn statistical drawdowns into psychological ones.. They indulge in despair and pessimism., start thinking about failure. And thoughts have the ability to materialize. Reality can change, if you think, that ended up in a financial hole. Psychological drawdown is able to make you think, that you are stumped.

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