Useful tips for contest

Hi guys, I'm wondering how you all handle losses that happen in consecutive days and boost your energy up to back on track?

I have some tips and they def work on my trading:

1. Stop trading: take a break to clear your mind first. If you trade more, it doesnt only solve anything, but will also make you more confused. Get enough rest to get yourself a good mood and spirit, then review your recent losses and trading behavior.

2. Review your trading schedule, your preparation before each trade, and your trading diary: Check if you have traded according to the schedule, and during the transaction, if you did lose control of your emotions or money management, or you didn't follow your trading plan. In this step, you need to identify the behaviors that caused you to lose money and start looking for ways to fix them. If until now, you still do not have a trading diary, it would be a big omission. The diary will help you review your history, state of mind, reasons for entering and exiting orders, and how you manage the trading process at that moment. I find it really useful. You'd better have one.

3. Reduce your trading volume: reducing the transaction size to the lowest possible will help you minimize the risk. This action allows you to focus on the analysis, execute the plan more perfectly, you will be mentally stable, not trade emotionally because the trading risk is low. Of course, doing this can't help you avoid 100% loss, but it helps you put your time and effort in the right place, find out the reason for losses and plan out a better plan for another time. When you refocus on the process it will help you to be more confident, more disciplined.

All my tips above. Hope it helps you somehow. Im absolutely grateful for any friends out there who can share your tips, so we can learn from each other.

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