YouTube video by Kardec Trader ("Don’t Make THIS Trading Mistake", July 31, 2023). The speaker gives practical trading advice focused on limiting losses and preserving mental discipline—for example, a hard rule to stop trading for the day after three consecutive losing trades to avoid revenge trading and escalating losses.
The next rule that I follow is I make sure I cannot have more than three losing trades. Now, if I do have three losing trades a day, which is okay, which is fine, which will happen and has happened, I'm not saying I'm trying to control that. I'm trying to limit myself to that. Meaning once I hit three consistent losing trades, I am done for the day. The reason I've implemented that in my trading, when I hit two two to three losing trades, my confidence goes down. I get angry, I get upset. I try to make that money back. So. So from a mental point of view, it's like, okay, well, I'm already down $6,000. Let me lose another 2,000 and I'll be down 8,000. Right? Because obviously, when you lose a good amount of money, adding another hundred or another thousand or another 10,000, depending on what scale you're at, doesn't really at the moment impact you because you're like, whatever, whatever, whatever. So I've implemented a rule where if I have three losing trades, I'm done for the day. I need to walk away.
