I am sure you will find the solution, there is no one single solution to get back to your money. Go back to your drawing board, list down some of the points listed below and understand what went wrong.
- You don’t understand how the stock market works
- You don’t have a trading plan – No system will work if you don’t have the discipline to follow it.
- You don’t trade with Stop-loss
- You don’t save.
- You don’t track what’s working well for you
- You don’t do your research.
- You’re too scared to fail – Fear of giving back a small profit will cause a trader to miss a bigger winning trade. Most profitability is based on the big winning trades. A winning trade should not be exited until there is a good reason to do so
- You don’t learn from your mistakes.
- Hope is not a strategy – Personal predictions have no value, because the future does not exist in the present moment, no matter how strong a trader’s convictions.
- Trading too big to compensate for the previous loss. Big position sizes cause emotions to run high, infringing on reason. Big losses are also more financially and emotionally devastating.
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