It's the weekend.
The Forex market is closed, but the synthetic market is always open. In case you do not understand what the crypto market is doing, you can actually trade in the synthetic market and make some profit for yourself, whether on the weekend or during the week. It doesn't matter.
- https://t.deriv.link?t=A42LNRDY345Q
The Forex market is closed, but the synthetic market is always open. In case you do not understand what the crypto market is doing, you can actually trade in the synthetic market and make some profit for yourself, whether on the weekend or during the week. It doesn't matter.
- https://t.deriv.link?t=A42LNRDY345Q
One thing the market is very good at taking away from you is confidence.
The more losses you accumulate, the more you start questioning yourself.
Your strategy.
Your entries.
Your analysis.
Sometimes even your ability to trade.
And once confidence drops, you start forcing things just to prove to yourself that you can still win.
That's where the cycle gets worse.
One way to start rebuilding is simple:
Size down.
Reduce your risk to a level where a loss doesn't affect your decision-making.
Then increase your timeframe.
Give yourself more room to think and less reason to react to every small movement.
But there is another step that I find extremely useful:
Go back to your losses.
Backtest them.
Mark up the charts.
Ask:
Why did I enter?
What did I see?
What did I miss?
Was the setup actually valid?
Was the loss part of the model, or did I simply execute badly?
This is important because confidence doesn't come back just because you risk less.
It comes back when you start understanding what is actually happening.
You need evidence.
Evidence that your model works.
Evidence that some losses are normal.
Evidence that some losses were simply execution errors that you can correct.
So when confidence drops:
Don't increase your risk to get it back.
Go smaller.
Slow down.
Study your losses.
Then execute again.
The more losses you accumulate, the more you start questioning yourself.
Your strategy.
Your entries.
Your analysis.
Sometimes even your ability to trade.
And once confidence drops, you start forcing things just to prove to yourself that you can still win.
That's where the cycle gets worse.
One way to start rebuilding is simple:
Size down.
Reduce your risk to a level where a loss doesn't affect your decision-making.
Then increase your timeframe.
Give yourself more room to think and less reason to react to every small movement.
But there is another step that I find extremely useful:
Go back to your losses.
Backtest them.
Mark up the charts.
Ask:
Why did I enter?
What did I see?
What did I miss?
Was the setup actually valid?
Was the loss part of the model, or did I simply execute badly?
This is important because confidence doesn't come back just because you risk less.
It comes back when you start understanding what is actually happening.
You need evidence.
Evidence that your model works.
Evidence that some losses are normal.
Evidence that some losses were simply execution errors that you can correct.
So when confidence drops:
Don't increase your risk to get it back.
Go smaller.
Slow down.
Study your losses.
Then execute again.
❤3
It's the weekend.
The Forex market is closed, but the synthetic market is always open. In case you do not understand what the crypto market is doing, you can actually trade in the synthetic market and make some profit for yourself, whether on the weekend or during the week. It doesn't matter.
- https://t.deriv.link?t=A42LNRDY345Q
The Forex market is closed, but the synthetic market is always open. In case you do not understand what the crypto market is doing, you can actually trade in the synthetic market and make some profit for yourself, whether on the weekend or during the week. It doesn't matter.
- https://t.deriv.link?t=A42LNRDY345Q
The week is already a profitable one, there is no point pushing it to an unprofitable again.