It has often been said that the financial markets are governed by two fundamental human emotions: greed and fear. While this may be slightly oversimplifying things, there is little doubt that mindset plays a critical role. This is even more relevant when discussing volatile underlying assets such as cryptocurrencies and forex pairs as well as unpredictable market conditions.
It is always important to know when to say when. Try to take a step back and develop an objective opinion in regard to the current situation. What advice would you give to others? The chances are high that pulling out might be the best option; even if a loss is incurred as a result. This will enable you to continue trading another day and it also conveniently leads us into the final point.Regardless of what you may have read online, there are no certainties within the world of trading.
It is much better to view such scenarios as valuable learning experiences as opposed to throwing in the proverbial towel. In the event that you are not entirely certain what went wrong or you hope to mitigate the chances that a loss occurs, it is equally logical to partner with a professional who can provide an in-depth evaluation of your trading strategy.The good news is that a good broker can help you to master the subtleties of trading psychology.