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When my stop loss keeps getting hit,
it feel like getting stunned by the market.
Of course, there is no physical damage other than financial loss.
But inside the mind, the bleeding may have already started.
You can't see it.
After taking a loss, my body can mask the emotional injury with the adrenaline pumping, keeping me stay trading or "clicking" with a stunned mind.
I'm not myself anymore.
Revenge trading, Overtrading, Adjusting bigger stop loss level, Size up, Taking trade no belongs to my system ... And by the time I realized it, the damage may be catastrophic losses.
What to do after taking a loss or multiple losses? Left the desk for a period of time
or Come back tomorrow
The market always there.
There are endless opportunities for me to trade.
It's ok for me ending a day with a small loss or consecutive small losses.
It's ok having small win and profit slowly.
I'm not the smartest trader in the world and surely not posses a perfect system.
So, be prepare and embrace for the consecutive losses once in a while.
Don't risk too much on each trade.
I should emphasize again and again on this risk management topic.
I should take SMALL RISK for each trade/bet.
Absolutely wrong!
I MUST take SMALL RISK for each trade/bet.
No matter what!
I didn't use huge SL for each trade
then why I suffer huge losses???
A few trades I didn't take profit first that I supposed to take.
And keep hope for the big run to cover all losses in one go.
Aim for big run is good but not keep holding without a solid reason behind it.
Yesterday I trade with a tired body and mind.
I still have my day job, and I have only limited hour to trade.
I did force myself to trade without take a good rest first.
Can't blame myself too much since there is no much time left for me to trade each week.
I can't cover yesterday losses in a single trade.
One by one. Step by step.
Never too greedy and lazy.
Only holding for bigger win with a good reason behind it.
Otherwise,
take the small profit and run.
