2 answers
Samod
Student
1
Question
Asked
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How can I improve my trading skills?
I've been making many losses in my trade recently and it strating to feel like I'm not good enough or I'm not improving, and it's breaking me so I really need help
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2 answers
Emma Pezzopane
Branch Manager
2
Answers
Arlington, Massachusetts
Updated
Emma’s Answer
Hi Samod!
Please dont give up and definitely dont get discouraged! Things take time and sometimes the best things require time and patience. Think of all of your 'losses' as knowledge and practice you wouldnt have received without the road bumps.
Depending on what your trade is - are there any classes your community offers in your field? Is there someone who is successful that you know in your trade who you can shadow or bounce ideas off of? Dont ever feel like you cant/ shouldnt talk out the opportunities with someone else. They may have some great ideas and make you realize you arent alone in your tough times.
Never give up because something isnt easy. The best things come to those who wat :)
Please dont give up and definitely dont get discouraged! Things take time and sometimes the best things require time and patience. Think of all of your 'losses' as knowledge and practice you wouldnt have received without the road bumps.
Depending on what your trade is - are there any classes your community offers in your field? Is there someone who is successful that you know in your trade who you can shadow or bounce ideas off of? Dont ever feel like you cant/ shouldnt talk out the opportunities with someone else. They may have some great ideas and make you realize you arent alone in your tough times.
Never give up because something isnt easy. The best things come to those who wat :)
Angela Xu
Actuary
1
Answer
Emeryville, California
Updated
Angela’s Answer
Take the time to figure out why you made a loss. This applies to improving at any skill - understanding why you made a mistake is how you can stop making it.
In this case, what were your assumptions going into the trade? Which assumption(s) turned out to be wrong? Do you have a strategy and did you stick to that strategy? Did you correctly evaluate the risks going in, or did an unforeseen risk materialize?
Don't be discouraged by losses but use them as learning opportunities. Some losses are inevitable and part of taking risk, but if you're seeing repeated losses then consider whether you need to change your overall strategy or your execution of it. And if trading is making you feel bad, consider taking a break for your mental well-being. Being emotional can also cause you to make mistakes in judging risk, which can lead to bad trades.
In this case, what were your assumptions going into the trade? Which assumption(s) turned out to be wrong? Do you have a strategy and did you stick to that strategy? Did you correctly evaluate the risks going in, or did an unforeseen risk materialize?
Don't be discouraged by losses but use them as learning opportunities. Some losses are inevitable and part of taking risk, but if you're seeing repeated losses then consider whether you need to change your overall strategy or your execution of it. And if trading is making you feel bad, consider taking a break for your mental well-being. Being emotional can also cause you to make mistakes in judging risk, which can lead to bad trades.