How to Assess Your Trading Performance|Consistency & Perspective

7 Ağu 2021

Hey traders,

👨🏻‍💻I am trading forex for more than 8 years.
During the last 5 years, I am actively posting my analysis & trades on TradingView.
Growing my audience, it was very peculiar for me to contemplate the reaction of my followers to my trading performance.
(by the way, we must say thanks to tradingview where the posting system does not allow to delete the posted trades so that each and every author is easily backtestable).

👩‍👩‍👧‍👧👨‍👨‍👧‍👧Those who follow me at least a half a year know that occasionally I have winning streaks when 9 out of 10 of my forecasts play out nicely. Sometimes, however, I face the drawdowns and catch a sequence of losing trades.
And sometimes the performance is mixed with the probabilities being on my side slightly.

🥇While the reaction to winning streaks is quite predictable:
I am praised by the members and get nice tips.
The reaction to losing streaks is worth discussing in detail.

It turned out that quite a huge portion of a trading community has a completely wrong understanding of a trading nature.
🤬The single loss is considered by them to be a failure, a mistake.
Facing the sequence of losses, they quickly become negatively biased to the person that they have just recently praised.
With the continuation of a drawdown, they blame the analyst and launch a barrage of criticism towards him.

🔍Then they are in a search again. They are looking for a trader that will be constantly right. Catching the new one during a winning streak, the cycle repeats.
At some moment such people become disappointed in trading and drop this business...

❗️Losses, losing streaks and negative days/weeks/months are inevitable. If you want to become a full-time trader, you must be prepared for the fact that trading won't give you a stable income.
Your equity curve will be in constant fluctuation.
Your goal in this game is simply to lose less than you make.
You must become disciplined enough to keep following the rules of your trading strategy no matter what.
You must learn to be consistent in your actions.
You should learn to perceive losing trades not as a failure but simply as the moment when the market takes its share.
Feeding you, giving you the opportunity to make money out of thin air,
the market definitely has a right to claim its dividends from you.

⭐️Change your mindset, learn to lose and the magic thing will happen.

❤️Please, support this idea with a like and comment!❤️

9 Ağu 2021

Not

Watch my new video on GOLD: