Losing streaks

A boring day today and I want to write down few lines about losing trades and losing streaks. In fact, actual for me is “last trade of the week” syndrome (my term). It is happening to me from time to time, after a succesfull week – last trade, usualy on Friday is a losing one; is actual for last 2 weeks, happen before. Re-readed “The secrets to Emotions Free Trading”.

…The biggest reasons people get into losing streaks while trading is because they confuse their losing trades with themselves, you conclude that because you had a losing trade(s), you’re a loser.

The important thing to remember here is that I am not losing trades. Losing trades are PART of TRADING. There is not a single trader in the world that doesn’t have losing trades. The only way to avoid them is not to trade in the first place. I can not be a successful trader until I take mistakes and losing trades for what they really are. They are simply by-products in the trading game and need to be used to gain learning and understanding. No way do they define as a person. But that is where the big problem comes in. Many people let their losing trades and mistakes to define them. If they’re having trouble and have had a series of losing trades, they start to think of themselves as a loser. They continually think of themselves that way, this kind of thinking will just bring on more of the same.

Forgiving yourself completely is the only way to avoid this trouble. You are not your mistakes and losing trades.
You must put the past behind you and go forward.
Holding a grudge against you only hurts yourself. This is actual for ALL THE THINGS happening in your life and what is an actual rule for your life can not be unactual for your trading.
Forgive yourself, trace a line, close that book, it’s the only way to be successful.

Proven again last week ;-).

Adapted to me,
And inspired from “The secrets to Emotions Free Trading”, thanks to Larry Levin