Query: How to recover loss faster?
Answer: Those who are new to trading believe it is simple to make money. When they suffer significant losses, they trade more to recover the losses. In my interactions with Novice traders, the majority of them express a desire to recover their losses fast. Does this mindset help in the development of better trading ability? How does a person with this mindset improve?
Trading is a process. This implies that you can not become a profitable trader overnight. It requires financial resources, technical expertise, the correct mindset, and more practice. A person who wants to become a profitable trader should concentrate on the process of trading. When they concentrate on recovering losses fast, they do overtrade, revenge trade, and impulsive trade, and again they are in loss. For instance, if you want to become a skilled driver, you will focus on honing your driving skills before learning what to do in the event of an unexpected situation on the road. It's easy to recover a loss; you just need to improve your trading abilities. And only U, and no one else, can do it. Although others can offer guidance, you are ultimately in charge of your trades.
The market moves in its own phase. Trading opportunities develop as per market conditions, not as per traders' expectations. So you can not predict how much you can recover daily or how much you can earn per day. When these things can not be planned or predicted, it creates uncertainty in the trader's mind. How you manage your expectations decides how fast you can recover from loss.
Answer: Those who are new to trading believe it is simple to make money. When they suffer significant losses, they trade more to recover the losses. In my interactions with Novice traders, the majority of them express a desire to recover their losses fast. Does this mindset help in the development of better trading ability? How does a person with this mindset improve?
Trading is a process. This implies that you can not become a profitable trader overnight. It requires financial resources, technical expertise, the correct mindset, and more practice. A person who wants to become a profitable trader should concentrate on the process of trading. When they concentrate on recovering losses fast, they do overtrade, revenge trade, and impulsive trade, and again they are in loss. For instance, if you want to become a skilled driver, you will focus on honing your driving skills before learning what to do in the event of an unexpected situation on the road. It's easy to recover a loss; you just need to improve your trading abilities. And only U, and no one else, can do it. Although others can offer guidance, you are ultimately in charge of your trades.
The market moves in its own phase. Trading opportunities develop as per market conditions, not as per traders' expectations. So you can not predict how much you can recover daily or how much you can earn per day. When these things can not be planned or predicted, it creates uncertainty in the trader's mind. How you manage your expectations decides how fast you can recover from loss.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.