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This can take a chunk out of your account. An account that could have been doing
well and you were super proud of.
Now your overall results are not what they were before.
Fuuuuck no.
Seeing as how losing streaks happen all the time, no matter how good your trading
system is, why would you make changes every time something does not go your
way?
You knew this was bound to happen. This is why Discipline is so important. It trains
you to block all of this stuff out — the losses AND the wins, in order to come out on
top in the end.
If you were to make changes to your system every time you hit a losing streak, you
would be adjusting your system for the rest of your life.
Dumb. Let it run. Take every trade. I’ll say that last part again…
The market isn’t sure where to go next, and things are choppy.
You’ve gotten caught up in this chop, and you’ve lost a few trades in a row, erasing
some of your wins form before.
Why? Because as soon as you do, that’s when it decides to trend again, leaving you
on the sidelines while everyone else is participating in a big, beautiful trend.
And then you jump back in right when it gets choppy again.
And by the same token, do NOT take a break from certain currency pairs, just
because they’re not acting in the manner you would like them to.
Meaning, if the USD/JPY for example, is being a little shit head and losing you a
bunch of money, it’s only a matter of time before it gets back on track.
And if you are wise enough to stay the course and take every trade as I said, you will
be there when the USD/JPY decides to trend again.
And this move will often erase all of your losses from before.
….but only if you’re present for it, and don’t decide to “sit this one out” like a sissy.
If you do that, you’re cementing those losses. Your fear of taking more losses is
preventing you from erasing them with one good trade.
Do nothing else.