Trading Psychology – Consecutive Loses AND The Trading Psychology Spiral
You go long and the market immediately goes down – you go short and the market immediately goes up. That’s 2 consecutive losses, and you are getting a little ‘anxious’ so you don’t take the ‘next’ trade. Of course, this trade is a winner. Now to make the situation worse, you then ‘chase’ the move, and as soon as you enter the trade it immediately reverses, thus giving you another loss this is now 3 in a row. Ok one more try – this can’t happen on every trade can it?
This time though, you will be real clever. You have noticed that the market is in a range, and it’s the bounce from the low/retrace from the high that is causing all the problems. So this time, the next trade you take will be a range extreme fade AND the hell with your trading method. The market is at the range low, and per your new on the fly trading plan, you go long. Instead of bouncing again, the range immediately breaks out to the downside. Not only does this give you consecutive loser 4, but the loss occurred from trading against one of...
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