Comeback from a Setback as a trader is one of the most difficult things a new trader will have to do. Losing 50% or more of an account, or even the entire account, can be a disaster to a new trader’s psychology and nerves. The majority of people never recover from this. There is a significant difference between a financial and a mental loss.
Having money fall apart and having your mental health fall apart are two very different things. For as long as the trader has the will to keep going even when they lose money, they will be able to make up for it. In the end, if they lose their confidence, their ability to deal with stress, and their faith in themselves as traders, they’re done.
They are not really traders, they are gamblers, and that’s what causes them to lose so much money at first. People who are new to trading don’t know, but their trading is so bad that they would have better odds at a casino betting on red or black than they would at trading the markets based on their own opinions and bias.
How To Comeback From A Setback As A Trader
Trading like a business person or an entrepreneur is what real traders do. They use an advantage and have the odds in their favor when they are trading. People who gamble have the odds against them when they trade. amateur gamblers are driven by hope and big bets, but the more they bet, the more likely they are to lose their money. To be profitable, you need to be on the right side of the market for a long time. This gives you an advantage over other people who aren’t.
The best way to get even in your trading account if you are down 50% or 100% is to stop what you are doing and instead focus on making steady profits. People who gamble with the odds against them should start trading. It’s likely that you lost money because you traded too big, too often, and without a real system or method. To get back into trading or even start trading again, you need to go step by step.