hi there
thanks for ur replay as of now, before i stoped trading becouse of loosing streak which took my all gains which i made , the gains where 50% on my capital of 1000. but market took back all my gains.
It happened twice to me i made 500 and lost 1000 then stoped for month's to know what is the mistake i made. then started once again the result is also same and I stoped once again.
any inputs from seniors ?
warm regards
Ali
Ali, In my opinion, u need to address some psychological issue of trading.
What is that holding u back from cutting those loosing trades that are taking away your profits ?
Why are u not able to preserve your profits on initial capital ? Are u treating profit with different attitude then you treat the original capital of 1000 ?
do you have profitable system /set of rule that gave u profit or it is just that you were on the lucky side of those trades ?
If I can suggest one point, then reset your loss limit to X $ per trade/ or X $ per day per week basis.. and keep 10% as monthly cap. Also keep track of accumulated losses and accumulated profits. And treat profit as your initial capital. Once u have booked profit, it is your money now. And u shd treat it with same diligence as u would treat your funds that u transferred from yr saving acct.
In short define
- per trade loss limit
- Per day loss limit
- per week loss limit
- per month loss limit
Keep track of each of them with each trade/day etc and know how much of loss limit is remaining.. otherwise, u would always have big loss limit left and u will continue to take bigger risks. Whole idea is to understand when u are not in synch with mkt i.e. fighting the market.. And market is telling u clearly with those loosing trades that wake up dear..and listen to me. Maybe u are just ignoring those signals..
Hope this helps..
Happy Trading
