Nn must understand in detail what is going wrong in his trading and what kind of errors need to be corrected or next time start from a trial on a demo account, and then go to a real account.
If a trader is going through a bad run for more than 3 days it's advisable to take a break from trading for a few days. Sometimes over trading takes a toll on a traders mind that doesn't allow them to operate efficiently. A break for a few days would help the trader to rethink about the strategies and help them win the upcoming trades.
Yea, but I think it is ideal to take break if you are not making any profit in few trades, rather than few days. Taking break can help you to rethink about the strategies used, just like you said.
Losses are a crucial part of each trader's life. Whenever traders face any loss, it's in their hands about how to proceed further. The emotions attached to each trade can either make or break your trading. I believe, traders should learn from their trading mistakes. Maintain a journal. Keep a check on each trade and try not to repeat the same mistake again.
Take a break. That’s the best thing I can suggest. Bad trades can be disheartening and if you keep making trading decisions when you don’t feel good, you may not be able to make great decisions. Just take some time to heal mentally and you will be alright.
Let me tell you something about bad months. Oh, wait a minute, I finally realized...Barring a nuclear disaster or debt-ceiling crunch the markets go UP. There are no longer bad months in a row.
You got it right sir, knowing when to take a step back and work on the losses are very crucial for the trader especially when he is on a losing streak.
The best way to deal with losses is to remember that the individual wins and losses don’t matter in the short run. Risks, losses, expenses and uncertainty are inevitable. This is how the market operates. Every trader should try to avoid becoming overly emotional with any outcome, be it a loss or a profit.
Take rest and try something new. Bad streaks are essential feature of trading and sometimes we should take it as granted.