Transcript for:
Handling Losing Streaks in Trading

all right guys welcome to another boot camp this is going to be relatively quick and this is actually is not one of your ideas this is one of my ideas um because it's kind of on theme with what has been going on um recently and then you know tomorrow we'll start drawing from your guys's ideas but anyways this is what you guys can do when you are in a losing streak so as you guys know I have lost the past two trading days of this week and I know that's like not a lot also sorry my gardeners are here they're lawn mowing everything um but anyways we got to get this done um but so when you're on a losing streak you know yes you I you want to do everything the same but you need to understand that hey you are losing let's try and figure out how we can stop this from happening and how we can prevent it um and how we can learn from the losses even more especially when you keep taking them okay so you don't the first thing is you don't want to change your strategy definitely don't change your strategy because you already have this one down and you've proven to yourself that it works right why would I change my strategy if it's been working for all these years there's no reason to change it right so moving forward you're not going to change your strategy so what do you have to change maybe you have to change some of your confluences maybe the pair that you're trading just isn't trading that well so there was a period in time like two months ago when the S P 500 wasn't trading that well and I was like dude I might just go back to Forex I went back to Forex had 100K week um and it's like just like that like that's one small little tweak boom like that got me right back on track so it's just like small things like understand that like hey dude I'm really sorry about how loud this thing is uh the lawnmower is but anyways it's even distracting me but anyways you want to make small little tweaks that can potentially give you a reward okay so for my example right now I notice okay why am I losing I don't necessarily think price action was bad but in the previous losing streak I was like yeah price action is pretty bad I might move it over to Forex right now price action isn't necessarily bad but what is bad is I'm entering on a low time frame liquidity sweep break of structure and that's it I wasn't using any extra Confluence to enter and price was usually just liquidity sweeping braking structure and then boom stopping me out and then ended up going back in my direction so what have I decided to do now that you know like how have I adjusted okay how can you adjust from this if you see this happening over and over again this is why it's important to journal your trades understand why you're losing and understand a pattern that happens okay so for me my thing was like okay I I keep losing off of liquidity sweet break of structure price action is good but I've noticed when I see a liquidity Suite break of structure order block entry or liquidity sweep breakup structure fair value Gap entry it's giving a lot better it's giving it's giving you know winning trades it's giving good risk reward it's giving winning trades versus what I've been doing has obviously been giving losing trades so how can I adapt boom make that little switch over okay now I'm only going to take liquidity sweep breakup structure order block entry liquidity sweep breaker structure fair value Gap entry liquidity sweep breakup structure order block fair value Gap equilibrium entry okay all of those that's that's those are these small little tweaks that you have to make and you have to understand like hey we don't have to make a drastic change right we're not changing our entire strategy we're not saying oh the strategy doesn't work anymore we're not saying oh the strategy got patched because that doesn't happen okay we're just saying all right we know what we're doing wrong we see a pattern of us doing the same thing over and over and it's giving us bad results so how can we tweak it a little bit to still get good results and then you can go back and back to I said like okay on this day and this is what we do in the trade recap I haven't even taken a trade today odds is that I take a trade relatively low um we had news today mess up the markets and again right now right I've lost the past two days trading this week or I've only traded twice uh two days this week anyways but um right what do I want to do I want to be patient I don't want to force a trade I want to let the trades come to me and if I don't see anything I'm not going to take it right the worst thing that you can do when you're on a losing streak is to continuously try and make back your money that will put you in a terrible position for me I know that that money's going to come back next week the week following the month following the year following and I'm going to just blow whatever I lost out of the water in terms of profit you know and why do I know that for a fact because I've been able to prove to myself that I'm that I'm profitable Within These markets and you guys hopefully have seen that throughout these YouTube videos of me tracking my trades every single day on YouTube of me tracking my trades and showing entries and showing boot camp videos of how this stuff works and you guys have probably seen that happen within your own trade within your own um trading as well you guys have built confidence that hey you guys are actually profitable and you guys can actually make money within these markets so with that being said right when you are on a losing streak it's not like let's switch everything everything's broken it's no we're making small tweaks we're making small adjustments because guess what what you were you what you were using was working literally a couple days ago literally a couple weeks ago okay so why would you switch the whole thing right you want to continue with what you've been doing okay you just make small little adjustments based off of what has been going wrong for you so the the losing streak two months ago at the S P 500 price action was bad I was entering off of my regular confluences but they just weren't playing out price was chopping and then like stopping us out never really had a bias what was what was the small tweak boom switch over to Forex I've traded Forex before I was good at it perfect we jump over there okay now this losing streak or it's not even a streak um but anyways this all right you guys think it's a streak I don't um but anyways right we see okay I'm entering off of liquidity sleep break of structure we're getting stopped out but price is still fulfilling our bias every single day like look look back at the SUV this day we took a short right here and right here we got stopped out stopped out and then what happened to price fell on gold we had a short position right here stop above here deep in profit gu ided a long position off of I don't even know I called it out I talked about it in the trade recap yesterday go watch the trade recap yesterday look at the GU trade that we set up it it's it would have hit take profit one take profit two and maybe even take profit three with this move up every single bias was correct it was just the small little executions right so what am I what do I look look at now hold on some potentially gonna take this GJ trade um what do I look at oh booger what do I look at now okay the executions are off you know we're getting stopped out but price is still going within our bias okay our market analysis isn't wrong price action isn't necessarily bad maybe we need to be a little bit more patient maybe we need a little bit more Confluence and that's what you guys need to do analyze your losses and figure out what you're doing wrong and narrow it literally like get it so like boom you're these these are your losses and there's a bunch of little mistakes that you make across all of them right get to the point where you can boom boom boom boom boom boom boom boom chop off all those mistakes so it gets to the point where you're so accurate and you're just like just firing in the market because like for me right I've lost two days this week and you guys think it's a losing streak definitely not a losing streak by all means right I would consider like two losing weeks or like three losing weeks or losing a losing streak okay if that happens then then you just follow the same thing right it's the same same situation right okay what am I doing wrong how do I tweak it how do I adjust right and if you lose just like two trades like that's that's normal right but still learn track track your losses figure out why did I lose how could I have done better and even on your wins why did I win how could I have done better how could I have gotten a better risk reward how could I have gotten a better trade right you need to be thinking like that in order to turn profitable because you can't the worst thing that you could do is sit there and be like and the market stopped me out and like throw a fit thinking that that market should have gone in your direction Market does not have to follow anything that you say Market was going to do that no matter what Market didn't didn't do something weird Market didn't act weird it was it's going to act however it wants to act and it's up to you to adapt based off of it you need to put that in your head bro okay so like stop trying to stop trying to act based off of stop trying to act based off of what you think Market should be doing and start acting based off of what Market is giving you what it's literally telling you right if we get to break the structure the downside in your bias is bullish if you we get a break of structure to the downside on a high time frame and your bias was originally bullish are you still going to hold that bullish bias or are you going to adapt and switch because guess what if you continue to having that bullish bias and we're in a bearish trend on high time frame you're going to continuously get stopped out right you need to put it in your head that you have to be okay with losing and then you have to learn from your losses from this because if you if you keep thinking I should have been right I should have been right I should have been right and you don't learn you're not going to go anywhere bro you're not going to go anywhere it's not the Market's fault it's your fault and that's why I love training okay I'm a competitive person and I love to improve on myself okay so for me this is amazing right the only person to blame for my losses is myself the only person to blame for like every single loss it's never the Market's fault Market was is going to move no matter what how however it wants it's never ever the Market's fault it's always your fault who lost the trade you did who analyzed that trade who who pressed the button you did okay it's never Market's fault it's never your strategy's fault it's your fault you just did not execute correctly you did something wrong so figure out what you did wrong and learn from it learn from your losses learn from your wins keep trying to learn and understand this market and literally just put time in on the charts okay if you you if you sit here day in and day out for a couple hours every single day watching Market move odds are you're going to get pretty freaking good at seeing how these markets move and why they move a certain way that's what happened to me I literally just spent hours watching this stuff bruh like hours just watching and journaling bro like and if you aren't willing to do that get lost bro like you will not you will not make it in here like at all like you genuinely you will not make it far doing this whatsoever so hopefully you learned something from that and hopefully if you guys are losing consistently which I'm assuming most of you guys are and that's okay because you're unprofitable and you're here to learn so that's my goal to help you guys learn okay so what can you do if you took a loss today boom go back over it what it what can I do better where did I go wrong how can I improve if you took a win today that does not give you any excuse what could I have done better where can I improve okay every single day there's room for improvement that being said I'll catch you boys tomorrow peace