Hello everyone
after losing for 2 trades in a row, i admit i cant take losses. once i lose i will lose my guts and my confidence. i dun dare to trade anymore. after losing 2 trades in a day, i dun dare to trade for 1 whole week. FYI this whole week DBS is winning.
This is a serious problem for me, and maybe for all the other traders. in trading, you got to accept lossing and losses. this is just part of the biz. sometimes you win sometimes you lose. just make sure you are winning most of the time and that is the holy grail. traders can lose money, but once you lose your guts, thats it!
below is great advice from peter crown. i must really learn to accept losses.
"Losses are an integral part of trading, and those who spend most of their thought processes trying to figure out how to trade with the fewest losses, don't "get it".
Don't you know that only losers get so freaked about having losses???? Losses are just losses. Make sure they are smaller than your winners
Until you learn how to lose, you cannot win, long term, as a trader
Take your losses for God's (and yours and your family's) sake, and then forget them. Get past them, recognize that they will happen a lot and learn to handle the one thing you are in complete control of.
How much risk you take and the size of losses you take. Then the only thing you will be left with will be profits.
When I began, I struggled and spent tons of money, didn't complain to anyone (no one believed in me but me anyway) and didn't beg either. I offered real value for the value I needed to acquire.
I borrowed money to trade, borrowed money to pay for training. I did everything I had to do to succeed."
Thanks Peter, i will learn to accept my losses
Here is something to boost my confidence for DBS.
did a manual back test for June 2 to 24 yesterday
14W, 2L, 1N.
what am i doing all these while? must be dreaming about elliot wave? hahaa
just keep things simple and stupid. thats the way
and have the guts to take losses!!