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  • Beginner
  • Intermediate
  • Advanced
  • Completion
  1. Beginner
    Early Stages for Beginners
    8 Topics
  2. Forex Terminology
    11 Topics
  3. Margin & Leverage
    2 Topics
  4. Personal Psychology Questions
    2 Topics
  5. Psychology for Beginners
    7 Topics
  6. Intermediate
    Identifying Scams
    2 Topics
  7. Brokers for Beginners
    5 Topics
  8. Technical Analysis
    13 Topics
  9. Market Structure
    5 Topics
  10. Completion
    Risk Management for Beginners
    8 Topics
  11. Fundamental Analysis
    9 Topics
  12. Advanced
    Using Indicators
    6 Topics
  13. Technical Analysis (Part 2)
    8 Topics

Going on a Losing Streak Vs. a Winning Streak

Losing Streaks

Losing streaks happen. Whether in sports it’s a 3 game losing streak or a 10 game losing streak, or in trading where you lose 5 trades in a row, they happen… SO PREPARE! During that time, all of the confidence you’ve built up cease to exist. You feel naked and vulnerable like there is nothing you can do to change the position you’re in. This is when you need to become more disciplined so that you can pinpoint what it is that is causing you to experience loss after loss. If you haven’t started logging your trades, start logging. If you haven’t been following your trading plan, start following it. It will even help to take before and after pictures of your charts so you can see exactly where you went wrong.

The problem most traders have during their losing streak is that the destroy their entire strategy off of 3 bad trades. Most of the time, the strategy is fine and needs minor adjustments. Instead of making those adjustments, they toss the whole strategy out and start from scratch, and that cycle continues over and over again. Try learning from your losses because the very best lessons can come from them.

The goal is to use proper risk management so that it does not blow your account.

Winning Streaks

Being on a winning streak is amazing! You’re building your confidence and you’re seeing results from all the work you’ve put into your trading. You are not the 73-9 Warriors!

You want to make sure you’re not over-confident to the point where it causes you to lack the discipline you’ve worked so hard on achieving, because an upcoming loss can seriously hurt you… like the 73-9 Warriors.

Usually, when we’re on a winning streak, we tend to think we’ve made it but there’s always work to be done. Regardless if you’re winning or losing, you still want to log your trades. Learning from your wins is just as important as learning from your losses.
NOTE: If you notice that you are winning these trades but you’re not following your trading plan, that is either considered luck or maybe you need to make a minor adjustment to your plan.