What Are Your Loss Control Strategies?

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I could remember trying something new with my trades back then. I challenged myself to try futures trading and be consistent with my profits, I tried with less than a $100 account and was able to make some decent profits, but greed as they said, made me lose everything to volatility and I was back to zero because after I saw the profit, I saw a little loss and i wanted to recover it at all costs and while I didn't use a stop loss, I traded with my emotion and before you know it, everything was gone.

There are simply different ways to help you control your loss, some might be technical while the best way is psychological. As a trader, you should be able to tell how much you are willing to risk to the market. Having a losing trade, cut past your minimum risk value is already too much risk. You have to exist the trade. At this point, you are also supposed to exist the market and take a break. Avoid revenge trading as it will lead to more losses than expected. Trading shouldn't be be don with emotions.

Revenge trading is a bad thing because it makes us not think realistically and cannot make the right analysis. because emotional management is needed in trading. Shouldn't we really be able to know our emotions when trading, because bad emotions will result in bad things, namely losses.

If our emotions are not good, we should get out of trading and do some refreshing, especially doing revenge trading, it will be fatal if our analysis is not right. Trading must require a clear mind and good analysis, so experience and expertise are very much needed in trading.

When emotions are frail, it is better to avoid trading not to bias its decision with personal feelings. It is expensive carrying great risk hence it is very important to avoid revenge trading because it is normally done out of pride. Most competent traders believe that the marketplace is a place to trade and not a place to make or lose money; thus it is all about mind, as the more experienced and knowledgeable we are, the better we will trade.