Haven't traded in a bit since the market's been rough, and I lost some confidence after a tough stretch. Instead of forcing my hand, I chose to pause and think about where I went wrong. A few key things hit me hard.
First off, I was trying to juggle too many trading pairs at once, and that led to confusion and bad calls. Then there was my risk management, which was pretty weak. I was using too much leverage and taking risks that I really couldn't afford. And lastly, I wasn't patient enough to wait for my setups to fully align before jumping in.
Once I recognized these issues, I took a step back and worked on fixing them. I cut down the number of pairs I was trading, tightened up my risk management, and learned to be more patient. When I finally decided to go long on BTC, it actually turned a profit. That trade brought home just how crucial patience, discipline, and a solid plan really are.
It also made me realize what my buddy meant when he said he once waited three days for a setup to fully materialize just to snag the best entry. He's always on about the importance of quality over quantity in trades, something he picked up from the Bitget TCC series, and it's really helped him climb the ranks. He even mentioned using tools like GetAgent, which he thinks is a smart move for making better decisions and executing trades.
These points might seem basic, but when traders overlook them, they often end up as exit liquidity for those who stick to the plan.
Some straightforward but crucial trading lessons I've picked up include focusing on fewer markets, protecting my capital with solid risk management, and waiting for clear confirmations before diving in.
How taking a break after losses can boost your trading results
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trading triggers our emotions no matter how much we try to control it so when you experience consecutive losses, you should take a step back this happens in sports as well a player may get benched so he can watch the game from afar and see how the other team plays objectively and he will see a fresher perspective from the bench
Watching too many markets creates noise. Each pair has its own structure, volatility, and behavior. By narrowing your focus, you reduce decision fatigue and start to understand price action instead of reacting to it.
Solid self-reflection OP, stepping back beats revenge trading any day, fewer pairs and better risk control usually fix more than any fancy tool LOL
Losses cloud judgment, thats normal taking a break helps reset your mindset and remove the emotional noise watching the market from the sidelines can teach you more than forcing another trade.
Everyone always recommends a break everytime there's an overwhelming situation from trading, especially losses.Every trader needs that season and moment of reset as it automatically interrupts revenge trading,it drains your mindset,strategy, clarity and discipline it requires.And stepping back after losses is emotional control.
I'll just pretend that I didn't read anything about Bitget this time.
Anyway, these are some of my mistakes as well back then. Focusing on too many pairs makes you overwhelmed because you will be looking at too many charts, and you will make an analysis to all of them and that will lead you to analysis paralysis, and at the same time, you can't think properly because of how many charts you're looking. Focusing on maybe around 3-5 trading pairs is for me the sweet spot. Also overleveraging was my problem back then, but the more I trade, the more I realize that overleveraging doesn't make me more profitable, but it's consistency.
It's good that you stopped trading for a moment and reflect on your mistakes. That's what I'm also doing whenever I get liquidated, and if I'm not, I don't stop, but I always look at my trades especially when I lose money on that trade position. Having a clear plan or strategy really is a must when it comes to trading. Even you lose your money as long as you followed your plan then it's all good. Trading is hard because it will test you and your attitudes. If you're not patient, you will lose. If you're not disciplined enough, you will lose. If you can't control your emotions, you will lose, and so many more.
shard_minerSenior Member
Posts: 359 · Reputation: 1322
#8May 1, 2021, 04:15 AM
I just loved this closing note you used because it simply summarized the whole point of the message you are trying to convey.
Even in any field of endeavor or interest, stepping back a little can help you see better ahead and makes you have clearer pathways when you return to game.
I left trading activities more than once and when I returned, it looked quite different because of integration of bots and other upgraded features on my platform of choice, still am sure my intelligence so far has more than leveled up and I trade better and more relaxed than when I used to be anxious even logging into my trading platform.
A little rest clears the fog of FOMO and FUD and sets a compass for a better strategic advantage.
I also liked it for what he's said about that it's about trading better which means that you should have better results and learned from the wrong trades we've committed.
Some traders keep on chasing their losses and that's consuming a lot of their thoughts, energy and money.
But to take a rest when things aren't going anymore based on how we planned it is the best thing to do because it certainly clears our minds and makes us realize of what we've done either wrong or correct.
When you trade too much your cognitive is overloaded and this will make you a little bit illogical, especially when you're in a pinch the need of making profit for the day.
One really awesome trade is what it take to beat your daily, repeated grind and overtrading. Lately i don't trade that much, maybe just once in a week due to this.
I can vouch it prevent from being such opportunistic overtrader and reduce my losses. Just make sure you don't get too carried away all the time while trading.
this applies to even sports and athletes. sometimes even a best playing athlete may need some break and just watch from the sidelines. look how the opponents are playing because we often see clearer when were not directly involved.
vault_alphaHero Member
Posts: 363 · Reputation: 2228
#12May 2, 2021, 08:06 AM
No controversy about this, one trade could be worth more than 100 trades at times. Overtrading is one of the issues that traders face, they just want to trade, thinking that's where more money lies, but that's self-deception and account destruction. More money lies in patience and accurate confirmation and discipline in ensuring that what you planned to do is what you eventually do. It's good that you've known the problem, ensuring that you fix it should be your task now. And I advice you to work even more on your money and risk management, as they could create issues even if your system works.
It is very important to stop for some time when you are trading and you are losing a lot. The reason why it is very important for you to stop trading for some time is because you need to check why you are always losing and you need to change some strategies. so I agree with you on what you said it is good for someone to step back for some time so you will do some check to know why you are always losing, because if you dont do that, you will keep losing money, which is not good at all. Some people will advise you to be consistent even when you are losing and to continue doing what you are always doing, that is a wrong advice. Being consistent is not bad but doing what you are doing is not actually not right if you are losing, you need to change strategy
Losses comes with a lot of emotional roller coasters and in some cases depression, if you are not careful this is capable of making traders take the wrong steps. it is important to step back for a while to allow yourself recover mentally. Still diving into trading after incurring lots of losses can make traders chase losses uncontrollably or as just as it's called "revenge trading" always take a break when necessary.
Patience is needed in trading so we can't expects the price increase after we buy and sometimes we needs to wait for some days without any movement but in other times, we see the price reverse after we buy and that makes us sell at high prices.
If you think trading in many pairs difficult to control, you should reduce and just pick less than 5 pairs or you can only trade with 3 pairs. That will not reduce your focus watching the market but if you think 3 pairs still difficult to manage, perhaps you only need doing one or two pairs. The important thing is you can finding the mistakes and fix it.
These are important lessons indeed. The 3 points are actually food for thought for every trader who wants to succeed, I mean money management, choosing fewer trades and being patient.
In what I have observed, being patient seem to be the number one priority because if you have patient and you take high risk, you are likely to hit your take profit spot because you entered rightly with a lower time frame supporting your confirmation. But on the other side if you take an impatient move, you are likely to lose the trade despite taking lower risk as you might burn your capital on the long time while expecting the price reversion. Patient is key in trading, one impatient decision can burn out your account.
I was supposed to say the same thing but you have mentioned it already specially with these Bitget guys trying out to shill. lol. Well, setting it aside then actually this is just the most viable thing to do when you are experiencing that losing streaks or being negative when you do trade or experience tons of errors on which taking up a break and trying out to analyze your losing trades so that you would be having an idea on what you are that been doing and would be making up some adjustments according on what you had observed. This is the most ideal action that you would making rather than on trying out to catch up and making tons of trades or ending up on having that revenge trade rather than on having a break on which this would be causing up that even more loses just because you are already that acting like a gambler.
Becoming a trader is never been an easy thing specially if we do speak about being profitable on which dealing up with a very volatile market then it would be that so hard for us to predict on what would be the next movement but due to some tools that we can use or fundamentals then this would be essential at least on giving you out the idea on where it would possibly be heading.
Yes, you are too brave to play with risks. Have you been using the same strategy that gave you such good profit performance? Having positions on 4 different pairs doesn't even allow me to do anything other than stare at the charts. Seriously, sometimes I can't even set the ideal leverage for each one, even after hours of TA.
I think the roller coaster thing, comes even before a loss or even before a win is experience. And it must be the depression is the one that some experience right after a heavy loss. Being careful is good and a must but it won't always mean that we will now avoid making a wrong step.
We must only think positive and try to distract ourselves, so that we won't worsen the situation. If trader still insist to trade even after many losses, that already shows a quality of chasing losses but there there can be others too that we can say positive like they are only not giving up and they think they will do better this time as they equip their selves with something new, you know, knowledge, strategy, and the likes.
D4rkFalconSenior Member
Posts: 308 · Reputation: 1050
#20May 10, 2021, 11:04 AM
Trading is not about trading more. It is about trading better. this was right Trading isnt for everyone especially if you are deals with some leverage trading or other perpetual method. Leverage is carrying risk and yes I know the feel and the pain. Even you are spot trader at this level also carry a risk, if you dont have enough capital to do DCA.
you know that Michael Saylor also had ton of bitcoin and keep buying their average is 67K and now bitcoin is below that level that means saylor is losing money or their company is losing money. Bitcoin price is up and down like crazy latelly and react hard when there is a major newss.
Bear market is definetly knocking the door of the market
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