The Emotional Roller Coaster Ride of Forex - Part 1/3

1. Losing Streak

There will be times that you will have a losing streak. Loss after loss after loss and you start to think "this is not for me", "Is this system really works?" You will start to doubt yourselves and your system and your confidence was shattered.

The truth is, if you had been following your system that made you money before, religiously; then those losses are just part of the game. Losing is part of doing business in forex as much as profits are. Sometimes, the reason your stop loss was triggered is because of intervention that results in spike. You should be glad that you had that stop loss to protect your account because have you not had one then your account could have been wiped out.

If we are to be stressed out because of losses then it would be worth, if it is because we did not follow our system. This is when we know, we need to fix ourselves, that is to go back to our trader personality test and remind ourselves the kind of trader we are. If we are inclined towards position trade, then it would be suicide to try to scalp.

The trader and the strategy must match and the trader must stick to the system beacuse trying to be what you are not and not best at doing is just basically digging the grave for your account.

So if you had been following your proven system, and still there are losses, just tell youselves that it is just part of the business. Maybe it is time to spend some time with family with the profits you made. Afterall, money is just a tool.