Disaster Recovery – How To Get Back Into Global Forex trading After A Bad Trade


Provided By Ultimate Trading Systems

If Your Global Forex Trading Is Taking A Turn For The Worse, Take Time To Reflect On Your Experiences


Everyone makes mistakes global forex trading. There's really no such thing as a perfect trader, and don’t believe anyone who says they’ve never had a loss. They have, and if they are any good, they’ve learned from their mistakes, and then put the mistakes behind them.

The good news is that the more you involve yourself in global forex trading and the more experienced you become, the fewer mistakes you'll make. If you use stops on all your trades, even a few large mistakes won’t wipe you out. Instead of being perfect, you should aim to improve continually, while using proper global forex trading techniques and money management skills. But while it's in your power to prevent avoidable mistakes, some market events can't be planned for. The market cannot be made into a completely safe place

If you are alert and nimble in your global forex trading, and have stops in place, quick market changes shouldn't hurt you badly. But it's always possible to be completely surprised, to have a disastrous computer crash or other equipment failure at the wrong time, or to simply be unable to exit a large position quickly enough. Occasionally, you may be wrong about global forex trading you felt very confident about. Events can sometimes conspire against you, causing you to sustain a large loss. And though losses like these are devastating, you can recover from them, with a bit of work.

Often the best thing to do after a big loss is to take some time off from global forex trading. I recommend doing something else for a week or two. It will put the loss in perspective, and give you time to recuperate from the emotional shock.

When you’re ready for it, take some time to analyze the global forex trading experience. Setbacks can be great learning opportunities, if you have presence of mind to take advantage of them. Spend some time figuring out the best way to keep the same thing from happening again. Then add these ideas to your global forex trading strategy. Consider if it was a weakness in your money management skills or your global forex trading strategy that contributed to the problem. Decide what you need to do to keep the problem from happening again, and then do it.

Once you’ve made your changes to your global forex trading system, trade on paper or in a simulated account for a while. This will help you to feel comfortable and in control before you start global forex trading again. You will need to get your confidence back before you start actually global forex trading. Also, your time off will have left you a little out of touch with the market, and this is a good way to get up to speed without risking capital.

When you return to global forex trading, treat it as a new start, free of pressure to regain lost capital. Whatever you do, don't keep punishing and distracting yourself by trying to "make up for the loss." Don't affect your thinking by putting that kind of pressure on yourself. Consider the mistake a thing of the past. The only way to trade successfully is to trade with confidence. If you're feeling guilty or are scared of a repeat disaster, you won't be able to take part in global forex trading with a winning attitude.

Once you have that winning attitude back, make only trades that you have confidence in. With your global forex trading strategy fine-tuned and your confidence back, you will soon be completely emotionally and mentally recovered from your loss. It will become one of many points on the road that you’ve passed on your way to becoming a successful trader.

 
 
"You’re About To Learn Secrets Most Traders Will Never Know About Profitable System Trading..."

Inside you’ll learn...

  • How to design a winning system from scratch and exactly what to do to supercharge your current stock trading system!

  • The one ingredient you literally "Drop" into your stock trading system that can triple your profit!

  • How to use “secret” money management techniques to minimize your risk.

  • The tools the professionals use and how you can get huge discounts (charting software, data, etc).

  • And you'll also get a FREE copy of David Jenyns’ complete Ultimate Trading Systems Course…

    Just enter your name & email - then click the “Click Here For Free Instant Download!” button. (All information kept 100% confidential). The download details will be emailed to you immediately.




    :
    :




  • We take your privacy very seriously. My personal privacy guarantee to you. I respect your privacy and will never share your email address with anyone. You can easily unsubscribe at any time. View our Privacy Policy - David Jenyns Founder of www.ultimate-trading-systems.com

     

    copyright 2005 Global Forex Trading
    www.meta-formula.com