Dear Fellow Traders,
I recently had an experience which shook me and almost had me rethink about my confidence in trading.
For 3 days , I had Stop losses hit across 10 continuous trades.
I am a purely Technical Trader, all SLs are put on the basis of TA and reading and interpreting charts.
Though over a period of time I have learned how to set SLs and do not risk more than I can afford to lose, most of my SLs are very tight and I have also learned to accept SLs as part of the game.
I began thinking as to should I keep wider SLs.( In Options even a 0.10 point difference makes a big difference with lots being of 8000).
Also made me think if my strategy is not working or should I be something else?
What happened on the 4th day was almost unbelievable. Just 2 trades which went in my favour were enough to cover the losses of the previous 10.
Though I must admit, I was very hesitant to carry out those trades but did them as I felt I cannot let such instance shake me and this was a chance to recover losses.
Again the Psychology reversed. Now I think that my strategy was right but the market rewards you only when it wants to, not when you want it.:lol:
I am sharing this with fellow traders as I believe most of us go through such experiences now and then.
I recently had an experience which shook me and almost had me rethink about my confidence in trading.
For 3 days , I had Stop losses hit across 10 continuous trades.
I am a purely Technical Trader, all SLs are put on the basis of TA and reading and interpreting charts.
Though over a period of time I have learned how to set SLs and do not risk more than I can afford to lose, most of my SLs are very tight and I have also learned to accept SLs as part of the game.
I began thinking as to should I keep wider SLs.( In Options even a 0.10 point difference makes a big difference with lots being of 8000).
Also made me think if my strategy is not working or should I be something else?
What happened on the 4th day was almost unbelievable. Just 2 trades which went in my favour were enough to cover the losses of the previous 10.
Though I must admit, I was very hesitant to carry out those trades but did them as I felt I cannot let such instance shake me and this was a chance to recover losses.
Again the Psychology reversed. Now I think that my strategy was right but the market rewards you only when it wants to, not when you want it.:lol:
I am sharing this with fellow traders as I believe most of us go through such experiences now and then.