GETTING OVER THE FEAR OF LOSSES.
Let's dive in
(RT FOR OTHERS TO SEE)
Let's dive in
(RT FOR OTHERS TO SEE)
I posted it on my substack (ogagamedia.substack.com) for those who love reading straight texts.
We all take losses. And most times it affects our next plays. We're scared to make the same mistakes again which will just pile up our losses and increase self doubt.
We most times trade against our emotions firstbefore against the market. If you've been on a streak of losses,
We most times trade against our emotions firstbefore against the market. If you've been on a streak of losses,
one thing you should do is to stop trading.
You might be taking small losses which might be insignificant of your portfolio but there's something else you're losing. Which is confidence in your analysis. This plays a big part of own trades.
You should have conviction in your
You might be taking small losses which might be insignificant of your portfolio but there's something else you're losing. Which is confidence in your analysis. This plays a big part of own trades.
You should have conviction in your
trades and if you keep on taking losses, you'll likely find yourself having self doubt.
So what next? Stop trading and analyse your mistakes. You'll find out that there's a wrong pattern you've been following in your bad trades. This could be fomoing without having much
So what next? Stop trading and analyse your mistakes. You'll find out that there's a wrong pattern you've been following in your bad trades. This could be fomoing without having much
information, not checking some metrics e.t.c
And once you're able to identify these mistakes, work on them. You might want to be on the sidelines and run simulation on some other plays. Yes you'll miss out on some profits but you're building your confidence back.
And those
And once you're able to identify these mistakes, work on them. You might want to be on the sidelines and run simulation on some other plays. Yes you'll miss out on some profits but you're building your confidence back.
And those
missed out trades most times won't really be the ones to boost your portfolio massively (considering the current state of the market).
What you should do when next you enter a new play is to reduce the risk you usually take. If you usually buy 3 of a project buy 1 in the next
What you should do when next you enter a new play is to reduce the risk you usually take. If you usually buy 3 of a project buy 1 in the next
play. And if you get it right, you'll feel some joy and become more confident in yourself again.
You might have made profits but what you'll observe is, you'll be more relaxed taking that small risk and as long as you made profits you're good.
Protect your mental because most
You might have made profits but what you'll observe is, you'll be more relaxed taking that small risk and as long as you made profits you're good.
Protect your mental because most
times, it's what determines your success or failure in your plays.
You can also use this tip for trading all around.
You can also use this tip for trading all around.
If you have any tips feel free to drop it below.
And if you found this helpful, rt and follow @ogagamedia
And if you found this helpful, rt and follow @ogagamedia
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