STOP Trading to recover…
If you are a trader and you are losing money each day or each week or each month or by the year You need to stop trading… If you can’t stop trading there is no helping you until you can make yourself stop trading. This is harder than you think for many..
If you can stop you can be helped if not you will be doomed and fade away…
Now that you have stopped (if you have) The next thing is to take everything you use off your charts… Have price action (via candles) and volume only Why because what you were using was not working.
Keep it simple look for support and resistance and start lining your charts draw the lines do this for 2 weeks or more Look at charts charts charts… Line your charts Line your charts watch the action
Slowly start to add back some moving averages and indicators like one every few days Watch it closely test it see if it is important to have on your chart….
Start to paper trade again to build up confidence be honest as you can in your paper trades
When will you be able to Trade again When you can explain to others the reason you took the trade as if someone was watching you and you can tell them clearly what you see to get you in this trade.
When will you be able to trade when you can see what your stop should be from looking at the price action and support and resistance on the charts
This can take up to a month or more before you can get back to trading You must look a many charts train your eye and mind again
You have been injured recovery can be slow You must start over again You must take your time coming back… Don’t rush the comeback you may never get another chance to trade monetarily or mentally
If you are serious about wanting to Trade you will Stop trading If you are serious about trading you will take off from trading and study the charts again for awhile… It is about training your eye and mind again Chart- set-up recognition….
Don’t be in a rush to come back.. Take your time the market will always be here
This is not all the answers but just some suggestions on some things you can do to get back on Track
It is a process to recover like physical Therapy and if you rush to get back you’ll just re-injure yourself and possibly end your career ..