Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

When Should I Take a Step Back From Trading?

24 May 2023 · 0 min

Watch on YouTube

0:22

A short YouTube monologue by Kardec Trader (uploaded May 24, 2023) advising traders on when to take a step back: specifically, when a trading strategy stops working and a losing streak begins. The speaker warns that prolonged losing streaks can destroy trading accounts and traders' confidence, and recommends heightened caution and stepping back to control losses.

So when the strategy stops working, you go down a losing streak. So the losing streak is where you kind of have to be really, really careful and really aware of how to control that. Right. Because if you allow yourself to go through a really bad losing streak. I've seen losing streaks destroy trading accounts. I've seen a destroyed traders confidence and whatnot. So if you hit that losing streak arrow, that's where you do need to take a step back.