1. You have to accept capital risk. If you can't totally accept the money that you use to trade as money that is possibly gone, then you will not succeed. That is not to say you should trade with money you can afford to lose. That's a stupid saying. But instead, you should look at your capital in a risk-free, ho-hum way. It's just numbers. You're just keeping score. No more, no less.
2. Realize that everyone's been there. I don't know a trader who hasn't took a beating at some point in their trading career. Realize that everyone has been in the exact same situation as you.
3. Some people need to take a beating to get it. Be honest with yourself. Some people need to be slapped around to get it. I do. I need to learn the hard way. You could tell me over and over not to do something, but I will probably do it anyway. You can change that mindset, but most of the time, you have to get killed in the process. Most of the successful traders quit making rookie mistakes like overleveraging and overtrading once they drop 20-50% of their account a few times. That feeling makes them sick to their stomach. Most go on to blow their accounts...
4. Stay positive. A loss is a good thing. Don't forget that. A loss is only a bad thing when you do stupid, rookie things. But then, it's not the loss, it's your head at that point.
5. Get involved in church. Start praying more. Talk with God more. Interact with fellow believers in your faith. It will improve your mind and body overall.
I, for one, have lost a lot of money. I know exactly how you feel.
2. Realize that everyone's been there. I don't know a trader who hasn't took a beating at some point in their trading career. Realize that everyone has been in the exact same situation as you.
3. Some people need to take a beating to get it. Be honest with yourself. Some people need to be slapped around to get it. I do. I need to learn the hard way. You could tell me over and over not to do something, but I will probably do it anyway. You can change that mindset, but most of the time, you have to get killed in the process. Most of the successful traders quit making rookie mistakes like overleveraging and overtrading once they drop 20-50% of their account a few times. That feeling makes them sick to their stomach. Most go on to blow their accounts...
4. Stay positive. A loss is a good thing. Don't forget that. A loss is only a bad thing when you do stupid, rookie things. But then, it's not the loss, it's your head at that point.
5. Get involved in church. Start praying more. Talk with God more. Interact with fellow believers in your faith. It will improve your mind and body overall.
I, for one, have lost a lot of money. I know exactly how you feel.
Mr. Trend