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5 Questions to ask after you've taken a loss

by , 24 January 2019
5 Questions to ask after you've taken a loss
Q. "I know taking losses comes with trading. However, I never know if the loss was part of my trading plan or if I could have avoided the loss. Are there any questions I should ask and answer when I take a loss to make sure I'm on the right path?"
 
 
A. If you're not sure if the loss was part of the trading plan, or just a mistake then next time make sure you answer these five crucial questions. 
 
1. Did I risk more than I could afford to risk per trade, e.g 2% of my portfolio, or did I risk more than I can emotionally and financially handle? 
 
2. Did I follow my trading strategy exactly, or did I enter or exit my trade too soon? 
 
3. Did I trade within the correct time that my system told me to? 
 
4. Was my stop loss placed where I risked less than what my potential gain could've been? 
 
5. Did I account for any surprise trading news announcements? 
 
Extra tips: Laminate these questions for next time you take a loss so you know whether the loss was part of your trading plan or not.  
 
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Q. "I often read in the weekly update with Red Hot Storm Trader that our trades are either In The Money, Out The Money or At The Money. Could you explain in layman's terms what this means so I know for next time?"
 
A. These three terms simply mean what your cash flow position is with each trade. 
 
In The Money is when you are currently at a positive position where your trade is at a profit. This means, if you closed your trade you would bank a profit.  
 
At The Money is where your cash flow would be zero with your current trade. This is where if you closed your trade you would bank neither a loss nor a profit.  Instead, you'd be at break even.  
 
Out The Money is where your cash flow position would be negative. This is where if you were to close your trade at the current level, you would bank a loss.
 
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Q. "I'm trying to decide which trading service to choose between Red Hot Storm Trader and Pickpocket Trader. Could you tell me what the differences are before I make my decision?"
 
A. Red Hot Storm Trader and Pickpocket Trader are both SMS and Email trading services that send out trading entry and exit signals on different markets using trading instruments like CFDs. 
 
Red Hot Storm Trader is a trading service that I have run since 2013  which has yielded an average 62.5% win rate over the last six years.  
 
Essentially, I use an easy, low risk break out 5 pattern strategy to spot profitable trades on the top 40 stocks on the Johannesburg Stock Exchange. 
  
Pickpocket Trader is run by an analyst with over 16 years of trading experience. He looks for trades listed on offshore stock exchanges and international currencies on the Forex market.  
 
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5 Questions to ask after you've taken a loss
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