RECOVERING FROM A BRUTAL DRAWDOWN! 😟
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- Опубликовано: 20 дек 2020
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Recovering from a Brutal Trading Account Drawdown - How do you deal with drawdown? How do you recover from trading losses? What is drawdown trading? OK.
It happens to many of us - we encounter periods of significant drawdowns and it is uncomfortable. You feel a lot of negative emotions - frustration, anger...etc
- Stop and give yourself time for those negative emotions to dissipate.
- Analyse what happened.
- What was the biggest reason it happened?
- Come up with a simple yet structured plan to recover
- Trade small, fewer trades, smaller size
- Do not chase PnL
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1. Take a break, let emotion settle
2. Find acceptance then review what happened
3. What was the main trigger?
4. Create solution to avoid it happening again
5. Plan the recovery
6. Size down, start small, process focused not PnL
Adjust, Adapt, Continue!
Trust in the process .
Don't get manipulated
Stay in the game
Even if you have a stop loss. You will experience a gap down that passes well below your stop loss at some point.
thank you always, i really needed this today
Thanks Mark! your awesome with awesome advice :)
Needed that. Thanks.
Thank you so much for this video!
Perfect timing :-D
great video, so helpful. been doing this over 2 decades and this still happens to me
Love this channel 🙌
Thank you
Love it!
This is the BEST video on this subject that I have seen, and I have watched many of them. If you are in drawdown, FOLLOW EACH STEP IN THIS VIDEO. It’s very accurate as to how you should recover your profits.
Impactfull 💯💯💯
Absolutely fire 🔥🔥🔥
Let it go King. That trade won't recover. There will be more, better more.
Well, reading your website at night. I totally agree in the repart of mistakes: "Most trading problems are variety of performance anxiety...." " This is because the root of much of the anxiety-perfectionism tends to be present in the most achievement-oriented and successful individuals. it's truly a double-edged sword" ok, but there is even more anxiety if you are fool time trader and you are not performing as you should!!! Now you'll say something like: " May be it was too early..." And that is long topic why in itself. But I am reading on your website :" Are you seeking trading success like a part-time trader? Would you be seeking success as a surgeon, professional basketball player, or musician by pursuing your work part-time?" And I TOTALLY AGREE! Trading require such ammont of time, dedication , learning,working on yourself and the ammont of energy that it is impossible to dedicate yourself to something else if you want to be really successful trader and not just one who places trades before going to work using some basic strategy, hoping for the best ( because during the day anything can happen, the price action can change and there is no point to keep position anymore even if your stop wasn't reached yet, o may be it's perfect time to reverse and you are with clients like it was me and can't watch it from your pc!) . I was going around by circles in my progress in trading while working and not having REAL progress because if you don't practice every day, you tend to forget and also I was coming late at home in such state of exhaustion that often I could not practice even the next day, how tired I was! I also perfectly remember that Mark made it exactly the same way: by burning all bridges behind (and yes, Mark, one of the books you recommend " Think and grow rich" by N.Hill is my favorite! I know it by memory, and when I first read it 7 years ago, I was surprised to see that I've already intuitively applied a lot of principals described there even much earlier in my life! ) So my question is: if the both conditions are necessary to be goal-orientated people AND full time trader to get there, but at the same time the both of these things create a high level of anxiety wich does not allow to get where you want to be! How then it's possible to overcome it? ...
Hey Mark, what do you personally consider a brutal drawdown? Best regards
Had a big loss today. This video came in time.
Ashvini Saxena no stop loss?
What did you do wrong
Stay alive, the best weeks always follow the worst weeks, sometime its worth taking the week off to study a trading strategy you don't know or learn about the professional part of trading.
If I have a loss or two I usually go for a walk before trying to trade again, I also change the symbol i am trading and look for another setup because if im wrong twice my idea and general sense of the market is probably wrong. Also if I have a larger sized loss or red week I will put some extra money in my account on friday so that the loss doesn't feel as bad psychologically on Monday and I don't feel an urgent need to make the money back then when I do make it back i pull it back into my savings, this helps not fear loosing more and missing good setups by hesitation, also going over my statistics helps my confidence because I know overall I'm going up steadily and maybe this is the week I had all my loosers in a row and next week may be the week when all my winners come in a row also, I just have to survive to find out.
Mark, please do a video about massive losses for people who traded right on Nickel, and had been in large profits - only to have LME cancel trades retrospectively and vaporized their investments. Money lost due to unimaginable acts of rhe exchange itself. How can one deal with this situation?
That is interesting, I'm sending the suggestion to Mark.
If you hedge your trades properly you won’t have to be in any real drawdowns 🤷♂️
What I thought was a temporary pullback turned out to be a reversal. Has been real hard to resist the urge to sell and wait for an oversold position.
@@MrNintoku you need to know what range is still considered a pullback for your situation, and put a stop below it
Could you add English subtitles to your videos?
You can activate them using the youtube 'Settings' panel.