How to NOT Handle a $3k Loss
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- Опубликовано: 22 май 2020
- Closed P/L: -$1533.50
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COMMENT BELOW HOW YOU COPE WITH YOUR LOSING TRADES
Overall I ended my day with -$1533.50 it's not a HUGE amount but why I'm really upset is just because I didn't follow my strategy. Not very often will you be able to hold on to a trade where you're down $3,000 and it just comes back up. So I got extremely lucky first of all which I don't deserve and should be punished more for not following my strategy because I'm such a dingaling! Most of the time when people hold their positions as I did, it doesn't come back up. There are many times where it goes down, even more, it triples, it doubles, and then people lose all their money! So I don't want to be in that eighty percent of people who try to trade and lose their money. I'm gonna bounce back from this tomorrow stick with my strategy. Take my small wins and build this right back up. I'll be back up $1500 in no time! Thank you guys for watching!
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"tried to mess with gold a lil bit....dip my feet in...i drowned." 😂😂
😝😝😝
Hi Tori, I really enjoyed this video. Funny because just about everyone can relate to this. I am the same trucker from Texas who commented on your more recent videos about Cutty Sark and how I hope I can leave trucking; I would rather just be a day trader for the rest of my life and I think I am almost there. So close, just dealing with psychology issues like tilt and FOMO; I was doing fine a few weeks ago and then one day I messed it all up and felt completely lost like I didn't know what the heck I was doing but I kept placing trades. I finally wrote down my rules, rebuilding my confidence, going to downsize to the micros and try to not freak out when I trade again. I decided to watch a few of your older video, and the title of this one caught my attention. This video just helped me a lot. It was 2 years ago? I was hauling orange juice in tanker trucks then. Anyway, this video is just what I needed today. Thanks for being real, honest, and showing losses and a sense of humor through it all. It encourages me, like maybe I really can trade again and succeed, and the dream is not over yet just because I went on tilt recently and lost $300 in one day.
I just love this. and I adore your complete honesty. EVERY trader has been through this, and will go through it again. I love that you've recounted it thought by thought. The thought process you outline is just so spot on. And so familiar.
Hey Tori! I'm one of your uncle's students, I think a good way to cope with losses is to actually be happy about them, I know it sounds the opposite of how "should" feel or feel naturally, but I think if we follow our parameters the way we should, we should be happy to have taken a loss because it wasn't a good trade anyway, and we were able to mitigate the loss and avoid actual pain from having a huge loss that's out of control. I guess what I'm trying to say is that controlled losses shouldn't affect us that much emotionally because it's within parameters and you know it's going to happen anyway. I dunno just a thought hehe.
True trading baddie. Here's my story I longed ETH during the pump 3-4 years ago and held the position for 3ish years seeing it down from $2,000 to $5000, and ended up getting liquidated losing around $15,000.... whooops.. bad bad trade.
I've learnt a lot... hopefully. I was punished hard, it was funny... but not funny haha.. "funny fml"... lol
Classic mistake all new traders make is not using a stop loss. Holding on to a losing trade in hopes that it will go back up, When in reality you will take a bigger loss when you could have just taken a small loss in the first place. I see this time after time from new traders. Never trade on hope! Capital preservation is very important. Risk management is the most important subject on trading. And I can promise you if you dont set stop losses or have any risk management plan you will blow your account. But you learned a valuable lesson.
chuck B thanks so much I appreciate the advice
@@ToriTrades Keep at it. Trading takes years to master. You will get there. Good luck! Also join a trading discord if you havent already. It really helps trading with other traders.
🙏🏼🙏🏼🙏🏼 I’ll look into it thanks again
Must bring memories if you watch this back and remember how much you have grown
Honest and sweet...
This video made me subscribe.. real shit
I'm on a mission to watch all your RUclips videos, starting from the oldest one. :)
You're a real G for posting your losses
I really appreciate that!! It’s not easy but it’s real.
@@ToriTrades I remember your uncle constantly said to follow the king (the price). That it decides the direction to go. You know how to trade. Realign your thinking at the line of change. Then again at the next line of change, with a little wiggle room. How long is the price going to go either up or down? Don’t Know...Don’t Care!
Follow the narrow path (not the wide path) using the trading template and you will be very successful.
Yes yes yes! You are 1000% correct! So exciting to hear back from other students:))) thanks for the encouragement!
Losses do incur in trading in all markets and I've had learned this the hard way too. Now I use a hard SL and TP for all my trades. I used to revenge trade my losses too, but it not worth it. Now I set my SL of $1,000 for 1-5 contracts, $2,000 for 6-10 contracts, and $3,000 for 11-15 contracts.
Me being disabled with Cerebral Palsy and having restrictive lungs decease; I can not have anxiety attacks due to losses in my trading. That's why I've a fixed SL in place with respect to how many contracts I trade.
If I do have a losing streak, I step away from my laptop for the rest of the day and come back the next day with a fresh start. I also talk about it with my wife who says encouraging words to me and always say "Honey, have enough money to trade tomorrow".
This is incredibly insightful!! I really appreciate you sharing!!
respect. your sharing is very inspiring. thank you.
This video actually shows the legitimacy of your videos. Your instagram shorts came out of left field for me an they are REALLY well done. So well i was uncertain if you were legit. But, pretty convined now. : p
Workin on teaching myself. Did 2k hours study + screen time in 5 months around beggining of 2022. Lookin to do the same on futures this year, see if i can get my understanding locked down. Will be checkin out your stuff more. Thanks!
Loss is fine when it's part of the strategy. I usually risk 0,2% per trade. And I ALWAYS have stop-loss set.
A daily loss helps, I lost $4k in gold, I was hurting. But I got over it , and went in with a new attitude.
Great video i done the same on GBPUSD It fell of a cliff and i was putting longs on as it was falling and in the end i lost £5367 the bummer is it came back to B/E . but i learned from it cut ya losses quick .
i lost a lot before. if only i had seen your videos before that :)
I just did this with my BTC and ETH long positions.😩 Just blew 2k. I kept adding margin and it kept going down. I had a couple of chances to close the position in a tiny profit or a very small loss...... but i didn't. I added more margin instead when things went really ugly and let's not even talk about stop loss.
I started today (finally) my trading journal writing down all that I did wrong (basically EVERYTHING). All my trading knowledge to the rubbish. At least I did not overtrade, instead I just opened a demo account (what a loser!) to journal every trade and emotion until I get my consistency back.
Feeling like an idiot I ended up in this video and it made me feel better🍀 😄 Thanks Tori!
ahmm, lesson? don't hold a position for long
it's good to know it wasn't only me that experienced or felt those that you talked about
indeed, mistakes are the best teachers
Lesson learnt for me: Once ypu book loss don't go for revenge tradong, breath and stay calm observe don't rush..
TOTALLY RELATE Like Michael Jackson “MAN IN THE MIRROR” (WOMAN in this case).. I LIKE THE HIT JAB SONG YOU DID WITH YOUR SISTER THERE (“Long- reverse ..short-reverse.. Lost...!!”) . You should listen to some songs after a big lost.. that might boost your mental back on.. maybe add some song track in your video to make more entertaining ( just a sugg for some who might be bored from repeating subject )..
Thanks so much for the input! I've been exploring adding some music in the background. Just a little tricky with getting it soft enough to hear my voice and making sure I'm using royalty free music which is hard to find also. I am 100% still working on adding some tunes. Thanks again for the suggestions! :)
The struggle is real we all go through it in trading
True that!!
Emotions sucks, they'll ruin the best plans if you don't control them.
True dattttt
I can so relate to everything you did and every emotion you experienced you had me in stiches lol...
Live to trade another day
absolutely!
Awesome channel Tori , Let's collab sometime!
Definitely!!
It happens that's what makes us traders, we live to trade another day
Loc rules
LOC rules always
I love gold all my best trades come from gold
Lol I sleep it off.
Haaaa
The thing scares me the most is that I get awarded for not following my strategy. That’s how I would blow up my account EVERY SINGLE TIME
and i will come back to the comments here, i wanna read all ... I'm learning tons from advices, obviously experienced traders too
What do you hope to accomplish as a day trader?
reggie insider I hope to be as successful as my uncle is one day 🤘🏼🤘🏼🤘🏼
Why didn't you reverse your trade going short?
Hah wish I knew the answer to that.
you need a stoploss no matter what
I do not trade with stoplosses haha as you can see
Thats totally natural and I'm just feeling releaved that I'm not the only one who feels this way...while trading..😂😂😂
Yoooooo whats good
ACForex Ayeeee 👋🏼
I say to myself "But i have to say, i am grateful for _____"
Yes! Absolutely, I definitely need to say that to myself next time around I find myself having to take a bigger loss than I’d like.
I remember losing $7000 on xauusd once 😅 i cried lika lil baby
Is she the Cash me outside girl??
😂😂😂
Why would you not set a stop loss?
Stop losses just aren’t a part of my strategy
Me today
Nooooo
Beginners will not watch this video😂😂😂😂