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how to accept losing?

  • #21
  • May 21, 2018 12:07pm May 21, 2018 12:07pm
Instead of a "loss" think of it as buying information. Losses are just the price you pay for information.
  • #22
  • May 21, 2018 12:26pm May 21, 2018 12:26pm
Quoting swTrue
Instead of a "loss" think of it as buying information. Losses are just the price you pay for information.
Seriously????
  • #23
  • May 21, 2018 12:28pm May 21, 2018 12:28pm
My system/method is built to include losses. In fact, I purposely add trades that I hope are losers (option hedges). Any single trade shouldn't make a difference. If it does, you're trading too big for your account size. Or you simply have no idea on the overall expectancy of your system/method assuming you even have one.
  • #24
  • Edited May 22, 2018 7:18am May 21, 2018 12:59pm | Edited May 22, 2018 7:18am
Quoting vladutz112
i want to ask how did u accepted that some trades will lose?and not take it personal and start searching for reason why did it failed
Because it is a complete waste of time!

If a trade fails, it fails.
Did you have control of the outcome, no.
Will you ever have control of out come, no.

So stop being a blouse and get a grip on yourself.
Focus on rationalising falling over and you will continue to fall over.
  • #25
  • May 21, 2018 1:25pm May 21, 2018 1:25pm
Quoting swTrue
Instead of a "loss" think of it as buying information. Losses are just the price you pay for information.
Agree. I consider a looser trade as the rent I pay to stay in bussiness, so every month I try to pay less rent.
Answering vladutz you need to achieve a mind state in wich to be in a trade doesnt cause anxiety, then loosing or winning that trade is the same because you'll be able to open a new trade after it. You need to accept you can blow your account and be comfortable with it (I blew a couple ).
  • #26
  • May 21, 2018 1:27pm May 21, 2018 1:27pm
Quoting vladutz112
{quote} this hit me hard, can u explain more on the part of feeling superior?
Basically its just one of many trading errors. "Plan your trade and trade your plan". If we dont, our trading gets random results and we cant achieve consistency. We must limit ourselves. We need boudaries. Rules. Worst case scenarios. If we think we are very good and market offers enough opportunities every day so we can trade however we want, we fool ourselves.
  • #27
  • May 21, 2018 2:58pm May 21, 2018 2:58pm
Quoting vladutz112
i want to ask how did u accepted that some trades will lose?and not take it personal and start searching for reason why did it failed

Imagine you are 100% right - you are god then. But you can't be god, that's why you can't be 100% right. Simple logic, but it's out of our psychology control, its hard to distance when you lose something or gain, because you want to be emotional from it. We want to experience emotions and satisfaction from your activities, don't we?

That's why only trading plan can help. You will definitely be greedy and experience fear during different times but these emotions has to be under control of the trading plan.
  • #28
  • May 21, 2018 3:04pm May 21, 2018 3:04pm
Quoting vladutz112
{quote} for me if i have a profitable day but i lose the last trade it's like my day is ruined and the shitty part is that i got quite good at trading but the emorional part is killing me if it would not been for the money i make i would never be in a bussiness like this
How on earth did you become a successful trader if you can't accept losing?
Come with me if you want to live....
  • #29
  • May 21, 2018 5:22pm May 21, 2018 5:22pm
Quoting Ill-b-back
{quote} How on earth did you become a successful trader if you can't accept losing?
i dont know how to explain it but i'm proftiable for almost 3 years now. i have a trading plan and all that i actually became more succesful than i wanted at the begining but i have been trading for like 9 years and in this time i have busted many accounts and now i'm just scared that i might lose maybe it's just memories from first years
  • #30
  • May 21, 2018 5:25pm May 21, 2018 5:25pm
Quoting Ill-b-back
{quote} How on earth did you become a successful trader if you can't accept losing?
i also can't stand being wrong which is from an inferiority complex i had from childhood and also maybe it's a problem
  • #31
  • May 21, 2018 7:16pm May 21, 2018 7:16pm
Quoting yanetjellen
{quote} Yes losing the last trade of the day really hurts...Often times i will limit the loss to maximum of 50% or so of my gain for the day...It hurts losing half but it REALLY hurts losing all profits or worse ending the day in the red after being up a bunch
Hi , you just answered your question.
Why do a last trade? if you already had a good trade in or maybe 2, Why a last one.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #32
  • May 21, 2018 7:17pm May 21, 2018 7:17pm
Quoting swTrue
Instead of a "loss" think of it as buying information. Losses are just the price you pay for information.
Losses are the price to pay for trading at the wrong time or/and trading like the others.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #33
  • May 21, 2018 7:39pm May 21, 2018 7:39pm
Quoting vladutz112
i want to ask how did u accepted that some trades will lose?and not take it personal and start searching for reason why did it failed
Trading is introduced to someone new on the premise that you can achieve financial freedom. This already makes you think that it's simple to do and only minimal effort is required. I would just accept that forex trading is probably one of the most challenging ways of making money (net money). That'll put things into perspective.
  • #34
  • May 21, 2018 8:16pm May 21, 2018 8:16pm
1. Loss is a cost of business.
2. It's all about provability game.
3. If your strategy has decent RR and win ratio (properly back/forward tested), you don't need to worry.
4. If your last loss hurts, it means you're over-leveraged.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #35
  • May 21, 2018 8:53pm May 21, 2018 8:53pm
Quoting vladutz112
i want to ask how did u accepted that some trades will lose?and not take it personal and start searching for reason why did it failed
Only way to accept losing is to have great risk/reward. Not always in the traditional sense.
but a good trade must be worth many gains.
you must also be able to control risk in the trade (without being bait for instos) then and ONLY then will losses not worry you.

But if you are making .5 on a good trade, dont how to control risk often cutting good trades for .25 loss or just letting it ride for full 1.0 loss then LOL of course the markets will scare you and losses cant be accepted. And to be honest you wont make it.
  • #36
  • May 21, 2018 9:28pm May 21, 2018 9:28pm
Quoting londonboy
Don't lose - keep adding loads of indicators until you can no longer see your screen. That will stop you from losing.
Not all sins are created equal
  • #37
  • May 21, 2018 9:56pm May 21, 2018 9:56pm
Quoting vladutz112
i want to ask how did u accepted that some trades will lose?and not take it personal and start searching for reason why did it failed
Sounds like "the market" took you in, dipped you head first into a porcelain bowl and flushed a couple of times. Figuratively speaking of course

I've been there.

Wachturm's analogy about growing tomatoes is a bit weird but is valid. Give yourself a chance. I was watching this today and thought it might help.

Inserted Video
Not all sins are created equal
  • #38
  • May 21, 2018 11:58pm May 21, 2018 11:58pm
Quoting vladutz112
{quote} i dont know how to explain it but i'm proftiable for almost 3 years now. i have a trading plan and all that i actually became more succesful than i wanted at the begining but i have been trading for like 9 years and in this time i have busted many accounts and now i'm just scared that i might lose maybe it's just memories from first years
If you have been profitable for 3 years then really you shouldn't be scared of losing by now.

I got bitten by a dog when I was 4 years old. I am not scared of dogs after 30+ years
  • #39
  • May 22, 2018 3:33am May 22, 2018 3:33am
I agree with what you guys are saying. I feel I can add something.

I think you can' t be a consistent winner being right 50% or more. Those strategies are profitable and have merit but they are often harder to trade. From my observation they are highly cyclical, their performances turn to depend on the particular market environment they are in.

On the other hand, strategies that nail the markets consistently are wrong alot. On one of those strategies that I trade I get it right 1/3 of the times. But my risk/reward is like 1-5. Counter-intuitively I find it easier to trade than some of my 70% win rate strategies, who work only 25% of the time and the rest breaks even.Cheers
When you see it, BET big.
  • #40
  • May 22, 2018 3:46am May 22, 2018 3:46am
Quoting heispark
1. Loss is a cost of business. 2. It's all about provability game. 3. If your strategy has decent RR and win ratio (properly back/forward tested), you don't need to worry. 4. If your last loss hurts, it means you're over-leveraged.
point 4 is spot on. this is something everyone needs to get branded on their asses. there are no such thing as traders. only risk managers. that is the core of the entire financial market.
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