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Here are 5 tips to recover from a trading losing streak.
1. Review your trading plan
Are you following the plan? If so can you make any improvements?
You need a trading plan for every trade you take.
1. Review your trading plan
Are you following the plan? If so can you make any improvements?
You need a trading plan for every trade you take.
2. Only take the best trades
Since you're on a losing streak make sure you only take the best setups.
Sometimes when you're losing you think the next trade is always the best trade.
To help determine a better setup look for a higher risk/reward.
Since you're on a losing streak make sure you only take the best setups.
Sometimes when you're losing you think the next trade is always the best trade.
To help determine a better setup look for a higher risk/reward.
3. Size down whether you're trading shares or option contracts.
Some traders like to size up thinking the streak has to end at some point.
Don't do this the streak can continue until your account is blown up.
Some traders like to size up thinking the streak has to end at some point.
Don't do this the streak can continue until your account is blown up.
4. Consider making adjustments to your strategy
Don't jump from strategy to strategy this will only hurt you.
Making corrections with your current strategy will help you long term.
Most traders fail because of a mindset problem, not the strategy.
Don't jump from strategy to strategy this will only hurt you.
Making corrections with your current strategy will help you long term.
Most traders fail because of a mindset problem, not the strategy.
5. Take a break
Take a break from trading but still study charts and continue learning.
There is a difference between taking a break and quitting.
A break can clear the mind.
Take a break from trading but still study charts and continue learning.
There is a difference between taking a break and quitting.
A break can clear the mind.
