If you’re having a losing run, try this ……
I appreciate all the kind words since I got stopped out of cable last week but seriously, that was basically the first trade I’ve gotten wrong all year so don’t worry about me.
Those who have been struggling to get out of a losing trough should try this simple remedy. Firstly reduce your position size to the absolute minimum. Secondly, decide clearly in your mind what the important factors are before you enter a trade. Finally the hard part, you must wait, wait, wait until you have an 85% trade.
Rinse and repeat for 5 consecutive trades until you have regained some confidence. Then you can start to increase risk and frequency of trades.
Don’t get too despondent over trading losses, its only money. The time to stop trading is if you feel yourself starting to gamble irrationally.