how to accept losing? | Page 3 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

does fxcm micro accept china account? 1 reply

Any reliable brokers that accept paypal? 4 replies

Looking for a broker that accept creditcard 5 replies

platform that accept "market if touch" order type 8 replies

Attachments: how to accept losing?
Exit Attachments

how to accept losing?

  • #41
  • May 22, 2018 4:05am May 22, 2018 4:05am
Quoting Bicarus
{quote} 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.
How will you make big money unless you are willing to take losses that hurts.
When you see it, BET big.
  • #42
  • May 22, 2018 5:07am May 22, 2018 5:07am
Sometimes i don't accept why i'm losing. That was natural i think. And for everyone who accept losing some money in forex maybe they have a lot of money.
  • #43
  • Edited 6:50am May 22, 2018 6:38am | Edited 6:50am
Quoting Rennaissance
{quote} How will you make big money unless you are willing to take losses that hurts.
big money comes with consistency. consistency comes from knowing what you are doing and experience. as a trader, your sole job should be to manage risk, not manage expected returns. returns should be arbitrary.

if you dont believe me, do the maths. assume you have a 80% win rate. ie, out of 100 trades, 80 wins / 20 losses. you risk 20%/trade for a risk reward of 1:1.

to this point everything is pretty much calculable.

now comes the tricky part. there is no way of predicting/calculating when a loss will occur or how many of it happens in a row. it may occur at your 10th trade / 10th & 11th trade / 10th - 30th trade which by your risk allocation you would have been margin called.

if you are gonna call me out on why i choose number 10. why not 70th win trade as by then i will have more money under my belt. fine. use a calculator, create a spread sheet. be it the 10th / 50th / 70th trade the results are still going to be the same. either u end back at breakeven or get margin called unless you do proper risk management.

my point being, losses is part and parcel of trading. you can have 70 wins in a row. im sure it will make anyone with that stats feel like a god. but trust me. what took you 70 trades to make. you can lose it in the next 10 if not for proper risk allocation.

btw the above example is provided you know your trading stats and you trust it given that you have tested it / relied on it for years. as per what i meant with consistency and experience.. this stats should be what all aspiring traders should be gathering and keeping track of.

if a professional gambler goes all out to know his stats and statistics. a trader should least do the same?
  • #44
  • May 22, 2018 7:38am May 22, 2018 7:38am
Quoting Bicarus
{quote} big money comes with consistency. consistency comes from knowing what you are doing and experience. as a trader, your sole job should be to manage risk, not manage expected returns. returns should be arbitrary. if you dont believe me, do the maths. assume you have a 80% win rate. ie, out of 100 trades, 80 wins / 20 losses. you risk 20%/trade for a risk reward of 1:1. to this point everything is pretty much calculable. now comes the tricky part. there is no way of predicting/calculating when a loss will occur or how many of it happens in...
This is a good point and something few people understand: its not 1 trade .. or 5 or maybe 10; its HUNDREDS of trade that make the difference, where you truly grow your account to the levels you want !! Ho its possible that 1 trade can hurt your feelings?? 1 trade its nothing in the long run !!

another VERY important point: those numbers that Bicarus make.. They are true ONLY AND ONLY IF you follow your strategy/aproach in the most mechanical and repetable way possible !! taking EVERY signal it gaves you that match the rules (no matter if you like it or not, you MUST take it) so the win rate stays consistent across a gazillion trades wich leads you to this conclusion:

WIN/LOSE DOESNT MATTER, ONLY FOLLLOWING THE RULES IN EACH AND EVERY TRADE ITS WHT COUNTS, ITS EVERYTHING !!

never forget that part
  • #45
  • May 22, 2018 12:30pm May 22, 2018 12:30pm
There are no specific to believe that each trader will be equally efficient and will be equally successful in the forex market. Definitely many traders are adopting same common strategies but not all of them can properly taking advantage of it. Again, we should remember the reality that forex is a zero same gum that has possibility of both win and lose. So, you should accept our losses but move forward with the lessons so that mistakes are never repeated.
  • #46
  • May 22, 2018 5:28pm May 22, 2018 5:28pm
Quoting Bicarus
{quote} big money comes with consistency. consistency comes from knowing what you are doing and experience. as a trader, your sole job should be to manage risk, not manage expected returns. returns should be arbitrary. if you dont believe me, do the maths. assume you have a 80% win rate. ie, out of 100 trades, 80 wins / 20 losses. you risk 20%/trade for a risk reward of 1:1. to this point everything is pretty much calculable. now comes the tricky part. there is no way of predicting/calculating when a loss will occur or how many of it happens in...
What I meant was how can you make money betting 1-2 percent per trade with a small account. I think you need to be a little bit more agresssive. And willing to take big drawdowns, as much as 50-60% but it should be money you can afford to loose.
When you see it, BET big.
  • #47
  • May 22, 2018 5:43pm May 22, 2018 5:43pm
Before you trade, you must accept that losing is part of the game.
If you can't accept that, then I think you are in the wrong place.

You can't win everything and there is no profitable person today who hasn't had any losses.
Also, when you start trading, you only invest what you can afford to lose.

If you've reached your ROI, cash it out. It means you've already gotten what you wanted to lose earlier.
All that's left in your account would be profit. If you lose it, no problem. If you gain from it, even better.

Accepting losses is what would make you a profitable person.
They are your stepping stones to success. Learn from your mistakes.
There is nothing in the Universe but mathematical points of force.
  • #48
  • May 22, 2018 9:26pm May 22, 2018 9:26pm
Quoting Rennaissance
{quote} What I meant was how can you make money betting 1-2 percent per trade with a small account. I think you need to be a little bit more agresssive. And willing to take big drawdowns, as much as 50-60% but it should be money you can afford to loose.
risking small does not mean passive. as i said, it first starts with you knowing your stats inside and out. if you know it and it has proven worthy over the years. risking 1-2% per trade is diversification. overall drawdown can be 50-60% that is not a issue. problem is if that 50% drawdown is from a single trade. ie putting your eggs all in one basket. if ur 60% draw down is due to floating trades. across 20 simultaneous trades and you know your stats then it is a different story.
  • #49
  • May 23, 2018 2:26pm May 23, 2018 2:26pm
thank you all for repling
  • #50
  • May 24, 2018 10:11am May 24, 2018 10:11am
I am a very competitive person by natures as I have been playing sports for well over 12 years, accepting losses is literally the only obstacle in my path.
Despite having a very profitable system, Over the last months I have had 90% of the days to be profitable only to lose over 90% of my account on 2 days due to revenge trading. I am now beginning to overcome this problem by following one rule.
Never trade more than 3 times a day , this allowed me to limited the damage I would do to my account from revenge trading and as time pass I because more and more comfortable with losing still have a long way to go, But what i learnt from this is that one should not focusing on accepting loses , one should focus on not losing all of his or her money from the losses because at someone point you would automatically be able to come to terms with it. The question is how much capital do you have remaining when you finally do.
That being said trade very small and limited the amount of trades per day to over come this problem.
  • #51
  • Edited 6:38am May 25, 2018 4:59am | Edited 6:38am
The less you give a fk, the happier you'll be!

Not really joking, it means to stay cool and focused no matter what, but you already know that.
The golden rule is never "invest" (who said gamble?!) more than you can afford to fkn lose! ...otherwise you get fkn freaking out and die!!!
Attached Image
Member
  • #52
  • May 25, 2018 5:40am May 25, 2018 5:40am
Actually we don’t know the way to handle loss , after having losses we got emotional and generally trade again and again with emotions , ultimately become loser.
  • #53
  • May 25, 2018 9:58am May 25, 2018 9:58am
Quoting TudorIoan
The less you give a fk, the happier you'll be! Not really joking, it means to stay cool and focused no matter what, but you already know that. The golden rule is never "invest" (who said gamble?!) more than you can afford to fkn lose! ...otherwise you get fkn freaking out and die!!! {image}
There's a book titled The Subtle Art of Not Giving a F*ck by Mark Manson. It's not trading related but a good read on that subject and some of what's mentioned in the book can be applied to trading
Not all sins are created equal
  • #54
  • May 26, 2018 9:33am May 26, 2018 9:33am
focus on managing risks (getting out of your trade ) instead of focussing on making profits/money this should make taking losses easier since if you manage risk correct you will cut it in time.
Trade
  • #55
  • May 26, 2018 10:17am May 26, 2018 10:17am
Quoting TiongeEdi
Sometimes i don't accept why i'm losing. That was natural i think. And for everyone who accept losing some money in forex maybe they have a lot of money.
It is not natural to think that you may not loose some trades.
The problem is our schooling system, you are only rewarded by being correct. In trading that does not work. Being correct does not mean you must win every trade. Being correct means to cut small losers and bank big winners.
Work on your emotional status, that is where most of the problems are, you think you have to be correct all the time and when you loose you beat yourself up.

One loss does not matter, not even a lot of losses. if you loose ten in a row, each of ten pips and then bank one winner of 150 you still win. It is only your emotional state that makes you feel bad.

Do not fall in that trap it will cripple your trading.
  • #56
  • Last Post: May 26, 2018 12:17pm May 26, 2018 12:17pm
Loss is inevitable in forex trading. And it gives pain no doubt. Actually no one learn how to accept loss. You have to learn how to overcome loss. Successful traders focus on their risk reward ratio and winning trade percentage. So you should have a well defined trading system that includes everything very clearly.
0 traders viewing now