Trading Setback or Trade Blessing?

Whenever we experience a loss we call that a setback. We like to avoid the word failure because it really isn't accurate. Being in the game already means that you haven't failed. But setbacks are losses that impact us either emotionally or financially. So where do you go from there?

If you want to be a victim of the market, a setback would be the perfect opportunity. Since the market is not really able to victimize you because it is not a thinking and feeling property, you would really only be victimizing yourself. You have this option, but it is not a viable one conducive to profiting and moving on.

There isn't a single trader who hasn't place d a lot of time and energy into coming up with a trading strategy only to find that their golden days were rather short lived. If they are still in the market, that would mean that they took it upon themselves to use their setback as a blessing and move forward.

Your own thought patterns have the ability to help you or hurt you. If you decide to be angry about the loss, or if you opt for feeling inadequate over the loss, then you won't be trading and making money but wasting time and talking down to yourself. In the market, even in changing market climates, time is very valuable. If you spend six months hanging onto a bad trade that angers you, those six months are going to be really quite rough. Use your thoughts and self talk to encourage your mind to find the value in the setback. Usually the value can be found in re-evaluating the original plan.

Perhaps you aren't sure how to go about changing all of these thoughts and feelings. It starts off being all about catching yourself. Some emotions feel as though they grip us, especially when we feel justified in our emotions. Rather than focusing on what you lost, try looking at what you stand to gain either through education or experience. If you can do that, then every challenge becomes a blessing.

The market is always teaching you something. In some cases, the market is teaching you how to completely revamp the things that you do when you are self destructing. There is always room for a positive outcome even if the cost was a little higher than you wanted to pay. If you have been working on viewing strategies and the results from those strategies as information to either help you grow or learn, you're halfway there.

If you haven't, than you probably would gain a world of peace after a poor decision. Remaining objective and not deciding that losses are personal reflections on you or your capabilities is a fabulous first step. Yet it takes some practice. Your trades, whether you win or lose, are a learning experience.

When a trading plan doesn't come to fruition the way that you hoped, instead of beating your ego into a pulp, give consideration to how the plan could be improved or if there need to be more alert to which market conditions your current plan may require. There is nothing in that attitude that would suggest any type of failure, but there is a lot there that suggests that learning is just as important as winning sometimes.

You want to be able to look over your first year with a much broader knowledge base than you have ever had before. For every setback there is a blessing inside waiting for you to figure it out. You might not get it right away, but when you do it will have been well worth the effort when you save yourself from making the same mistake two or three times.

About the Author

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