I noticed I’m still in AUDNZD, which is in good profit. Price made a new high, and my first action was to move the trade to break even. At the same time, I noticed I lost a trade on NZDCHF which I set a pending order for this morning.
What I did next was a reaction to the loss. I immediately sought a trade on a currency pair that was not on my list. Once I did that, I heard a voice saying, STOP DOING THAT!
This is a repeated action I do when I lose a trade. Instead of feeling the loss, I try to medicate it by looking for something else to do.
As soon as I realized this, I wrote that down as a limiting belief and then wrote down what I believe about the market.
Limiting Belief: Losing a trade makes me feel like I need to look for a trade on another pair to make my money back.
Action to take: take a slight loss. It’s better than letting a losing trade run.
Belief: Small losses tell you the price has reversed and to be patient to wait for the following setup on the same currency pair.
Belief: The market changes. I have to adapt quickly because the price movement will change, which means every trade is unique.
Belief: Make trading a fun puzzle to figure out. It will become overwhelming if I work on too many puzzles simultaneously.
What I noticed last was how I felt. Usually, I feel a tight pinch in my chest before I get on my charts. Its anxiety. I didn’t feel it this morning. I felt relaxed.
After dealing with years of anxiety I can feel it decreasing the more I write out my thoughts and beliefs and see how they are what I trade.
Experiencing today's lose I had no feeling just a reaction I will work hard to not do again.
What reactions do you have when you lose a trade. What are thoughts and feelings? If negative what can you now begin doing that will help you adapt to price movement with a clear mind and well thought out actions?
If you found value in this shared moment of my trading journey please like this post and comment. You're not alone in this trading world. Let's talk it out.