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What are some ways you can help yourself mentally between the good and the bad days of trading?

Thu, 08/04/2016 - 9:16pm
Tere' C

I'm setting what should be achievable risk and size goals to help me minimize negative psych and boost positive psych, and to have fun w/o worry of failure. Curtis is my mentor and he reminds me, "Its just another trade," and to not take it like it defines me. It just is what it is.

So, the trading goal for each day of the coming trading week is: (1) RISK MANAGEMENT ..... take all stop losses according to plan (either EMA or opposing band, whichever is further away from entry price) and (2) POSITION SIZE MANAGEMENT .... max size per position 0.05 lot. I am making these decisions to better manage trade psychology, and to obtain more accurate trade results to evaluate the strategy I am using.


I agree with Terry, risk and position size management are keys for helping me with this roller coaster ride! This requires planning your trades and being "ok" with the result whether it hits your target or your stop loss. Anything can happen in the markets, so your measurement of success should be on following and trusting your plan.


Hi Aaron,

Sometimes the thing that helps me is to breathe deeply and remind myself that a bad trade is a lot like a thunder storm that usually seems worse than it is. And at those times when it seems like it has been storming for days with no end in sight? Stop trading until the sun shines again.

This might sound trite, but conscious breathing can really make a difference.


Trust your instinct, if the first few trades of the day are not going your way and you're starting to feel discouraged, learn to walk away and trade another day, the market and the opportunity will be there waiting for you tomorrow.

Take care!

Dan G

Having a bad day:

1. Step away and come back in 45 min., Mkt. conditions may have changed
and trades might go better.

2. Switch to demo account until trades turn positive.

I let my anger out, try differing strategies, usually ended up with big losses.

I also look for mkts conditions where I have prev. lost and practice
in demo. to learn how to turn around bad trades.

3. I progressively reduce lot sizes by 50% for each 1% drawdown. Then
progressive increase for each 1% gain. equity curve looks like upward
smily faces attached to each other.


In addition to previously mentioned (RISK MANAGEMENT & POSITION SIZE!), if you're hitting consecutive losses, go back and review all your trades in plottrades asking yourself did I follow my plan, what was trend, was I chasing, was there news etc., then ask yourself what would have been the results of your trades been had you not made any errors. This will give you some time away from making more bad trades and rebuild your confidence.

Hang in there, there will bumps in the road, but there will be better days in front of you too.