Even if you have not been trading for long enough, you are probably already aware of the fact that one of the most important steps to achieving forex success is maximizing profits while minimizing losses as much as possible. Even (or especially) if you are a forex veteran, you have probably experienced your fair share of losses.
However, launching successful forex trades is one thing, but recovering from a nasty streak of losses is an entirely different animal, as the latter requires a different mentality and set of skills. Luckily for everybody involved, we have comprised a list of actionable advice that will help you recover your mojo. Here is how to bounce back from forex losses.
On the Dreaded Day
If you happen to be on the verge of a huge losing trade and you are looking for ways to save the situation, you should get out before things get worse. Even if you do have a slight chance of recovering, it is not worth pursuing if you risk losing your finances.
Every trades has a bad day from time to time – there is no way around it. The general rule of thumb is to not let a bad day dwindle you’re the profits you would make on a normal day. For example, if your average winning day ends with a $700 net profit, do not waste $800 trying to get out of the bad trade – the better approach is to focus solely on damage control.
Admittedly, a big loss can cause a storm of inner emotions, from anger, confusion, frustration, fear and self-hate – this is totally natural and no trader with experience will blame yours for it. But your focus should be getting past these feelings as soon as possible and start the next trade with a clear head, with no leftover negative feelings. In this way, your next trades will surely be more profitable.
Understand the Nature of Your Loss
Now that you have (hopefully) prevented any further damages, it is time to figure out the nature of your loss (or losses) in the market. There are two main types of losses:
- Emotional losses. The name is pretty suggestive – these are losses triggered by being overly-emotional, and it includes losses caused by over-trading (spreading your finances too thin in the hopes of hitting too many birds with one stone) or over-confidence in your skills.
- A normal loss. This is caused mainly by statistical issues related to your trading strategy. More specifically, it is caused by a methodological or strategical failure. There is also the fact even if you are trading responsibly and consistently, a certain percentage of your trades will end up in failure. No strategy is 100 % guaranteed to work, so you should not stress on this too much.
Once the dust has settled and you know the damage, it is time to take a step back and asses the situation. Regardless if the loss was small or big, isolated or part of a long stretch of failures, this process is important to go through if you want to learn from your mistakes.
If the situation is the worst possible – outright financial ruin – there is nothing much you can do other than taking a break from trading and returning once your finances are ensured. Do not dip into your savings or take debt to restart your forex career, as this will create enormous pressure that will certainly lead to you making worse and worse decision, creating a vicious circle that is very hard to escape.
Once you have done that, it is time to advance to the next step, more specifically, accepting responsibility. While the temptation to blame the loss on nefarious market schemes and fluctuations may be too hard to resist even for the most seasoned forex veterans, on the long-term, it will cause only bitterness and even lead to overconfidence.
So, accept responsibility and try to figure out what went wrong and what you could have done differently. This will not only reduce the chances of this scenario occurring again, but it is also a healthier process than sucking up the loss and bottling up negative emotions directed at the market and other traders.
Go Back to the Demo
Before cringing at this suggestion, hear us out first – going back to a demo account might not be the biggest of ego boosters, but there is no shame in going back to square one and practicing until you get back into your rhythm. Nobody is saying that you should act like you have no prior experience – because you have tons of it, but it has not worked out for one reason or another. So, the best approach is to go back to a demo account with professional trading terms and good services.
The one thing you have to remember is that the market will always give you the occasional kick in the head, no matter how experienced you are. Even the pros are not protected from this happening. However, the difference between a pro and a rookie that goes through a streak of losses is that the veteran knows that they have to build back their confidence and hone their skills before making a full return to the market.
Focus on What Made you Successful in the First Place
If you have been trading in the forex market for long enough, you have certainly had your fair share of wins. The course of your typical forex trader is almost an archetype – when you started out, you were likely cocky, but as the market realities unraveled themselves, you have learned how to build healthy confidence and honed your strategies accordingly.
This feeling of healthy confidence is obtained by taking on difficult tasks with no absurd expectations, and getting better at doing those tasks, not necessarily accomplishing them. Confidence comes as the positive results of our hard-work start showing.
So, after a big loss, you should take a step back on focus on your trading plan, and figure out what made it successful, and what elements caused it to fail this time around. Plus, try to see the full side of the glass – a string of wins can make us feel lazy. A big loss can be a serious wake-up call, and more often than not the only thing that incentivizes traders to get better.
Experiencing your first big forex loss or a string of failures can be tough, but anybody can bounce back with a little dedication as self-restraint. If you find yourself in this situation, try to focus less on blaming the market or other people and more on retracing your steps, making adjustments to your strategy and keeping your emotions in check. Do this, and you will build back your confidence and finances sooner rather than later.
This is a Sponsored Feature
The internet has set up brands at every corner of the street and getting people to visit yours is a mix of skill and art. The attempts to layout customer roadmaps to your brand which aren’t abandoned are not new and the struggles are the same as before. In fact, the struggle to have your brand heard has piled up as competition keeps emerging and viewer attention span keeps getting fragmented. This has led to a surge in brands using conventional advertisements to highly compress their message to the audience.
This is not the best gameplan to bet on. Ads are perceived by many as intrusive, insincere and housing an ulterior motive. The audience is bombarded with ads from every angle and making it shorter does not really help. Most people don’t react the same way to guest posting.
A guest post is a piece of brand journalism which lives on a publisher’s website. Sponsored posts are an advertorial piece of long-form writing that is created to be highly engaging. They avoid the intrusive and abrupt conventional-approach of ads and indulge in a more respectful and subtle modern-approach for recommending your services or products.
Choosing the right platforms to publish your guest post is crucial as the platform is seen as your partner and representative. Your chosen platform must balance between writing a blog post and a traditional advertisement, stray away from being intrusive and stick with being subtle and respectful. At Global Banking and Finance (GBAF), we offer the opportunity to bank on our decade-long experience and expertise in writing balanced content like this.
How Can Guest Posts on GBAF Help You?
Constantly investing time and effort into writing and publishing on your blog is great for fostering and strengthening your already existing audience relationship but this doesn’t help you reach a new audience.
Guest posting opportunities on our platform gives you access to an untapped audience base. This is a significant advantage in two ways:
- Familiarity: We have built our audience through our authentic, thought-provoking and storytelling writing nature. Our audience is familiar and receptive to this writing style. When we adapt your content in the same format, it allows your content to have better reception compared to traditional ads. Also, your content will adapt to the environment of content which makes it feel natural and less abrupt or intrusive.
- Trust: When a consumer learns about your brand through someone they trust (someone like a renowned brand, friend, some industry authority, etc), they are more likely to trust you, too. Our audience’s trust means a chance for your brand’s voice to be heard. It also means having customers who have completed their journey of brand choice. When they choose you, it will be an additional choice of transition from our platform rather than a new choice of approaching you. They only have to go half-way.
With amplified brand reach and redefined trust, your brand visibility and credibility will be boosted. We also help you boost visibility by leveraging our social media channels which currently have 135k followers and keep growing every day.
Another major area of impact when doing guest posts with GBAF is the focus, delivery and expertise of writing. The audience members will engage with your content much more than they do with your traditional ads. This will increase the chances of convincing the customers who doubt, skepticize and speculate becoming customers of your brand from afar. Writing to deliver your promotion with value-driven content also allows you to plug in a recommendation at a crucial point of the problem with your brand as the solution.
Lastly, value-driven content avoids the intrusive BUY THIS! style of writing. Here, the focus is on communicating your knowledge and therefore allows you to establish yourself as a thought-leader in your niche.
All of these combined benefits act as a catalyst to boost your brand reach, funnel attention to your brand, gain a competitive advantage and knock down all other challenges presented in separating yourself from your competition.
Brand adoption is slow. Abandoning an old familiar brand route for a new one is difficult. People rarely reach out to brands and they sprint the other way if they see brands reach out to them through conventional and dull ads. In such a deadlock scenario guest posts can provide the perfect strategy to bet on.
Why Guest Posting is Your Best Bet
In a scenario where new businesses are popping up everyday, one of the major challenges brands face is that of devising an organic and effective way to get the attention of their target audience. And one of the first solutions that comes to mind is the internet and consecutively, digital marketing. Even though its all-pervasive nature has made it both super-easy to reach people across the globe, the internet also comes with its own set of challenges. In this article, we will discuss the tough-to-crack parts of digital marketing, things that almost every brand representative or marketing executive has to face in the present date.
The oversimplification of digital communication has deceived many brands into believing that it’s the only way to reach their audience. However, the reality is hardly so. Today, there are more platforms and media formats than there have ever been before and newer ones keep emerging everyday. As a result, the netizens have developed a rapidly decreasing attention span. As a result, brands are wrestling to fit their message into as tiny a space as possible in what can only be called conventional methods of advertising.
For many brands, digital marketing proves to be an ordeal that takes years to crack, all the while draining the brand’s potential for more business and/or larger reach. It is worth noting that one of the major challenges that most businesses face is that of people avoiding ads altogether; no matter how good your ad is, chances are that people don’t want to see it, resulting in zero engagement. The second and bigger challenge is that short messages don’t convert those who are unaware of your brand, to brand loyalists. Instead, these ads are likely to affect only those who are already considering buying into what your brand is offering, which might be a small share.
This is where Global Banking & Finance Review (GBAF) comes in. We offer you the opportunity to overcome both the challenges (and more) in one go through our guest post services.
Guest Posts Have An Edge Over Normative Advertisements
Guest posts are advertorial pieces of long-form writing, created with an aim to engage the audience by taking away the impression of normative ads. How? Sponsored posting articles are so designed that they address the audience’s demands or queries, and also offer your brand as a solution instead of point-blank marketing. Consequently, this makes the audience spend a longer time engaging with your brand than they would do with, say, a pop-up ad. Through a guest blog post, your brand has the space to engage in a fair exchange because the article delivers value to your audience rather than being a conventional sales-driven advertisement.
To sum it up, sponsored posts fall right on the sweet spot between a blog post and a traditional advertisement on the spectrum of advertising.
Here’s Why You Should Run Guest Posts on GBAF
At GBAF, our team understands the importance of the environment in which your brand is introduced to an audience, something that leaves a lasting impact on their minds. It goes without saying that this very impression will influence and drive their future decisions on whether they want to engage with your brand and buy what you’re selling. Hence, it is our staff that is usually responsible for writing the posts that go up for your brand on our website. This allows for the sponsored post to merge in seamlessly with the existing content in our website instead of sticking out like a sore thumb. The aim in doing so is to create these posts in a way that does not distract or seem abrupt as guest posts are meant to be adaptive to an existing environment. So, even though it is essentially promoting your brand, a sponsored post is more of a brand journalism piece than an ad.
On our platform, we understand the importance readers attach to authenticity and value. This also allows GBAF to have a firm grip on introducing your brand effectively while simultaneously catering to the audience’s needs. Our team works around the clock to gain our audience’s trust by continually delivering authentic and value-driven content to our readers for more than a decade. When you partner with us, that resource pool is easy to tp into. When a consumer learns about your brand through a reliable source (for instance, someone like a renowned brand, friend, some industry authority, etc), they are more likely to trust you, too.
Why You Need to Take Guest Posting Seriously
When customers are largely in control of marketing conversations, traditional advertisement has lost its touch. How you educate your prospects and out-educate your competitors now win the battle and generate leads.
If you’re the spokesperson of a brand or if it is your job to tell a story that your customers care about, you know how important it is to be generous, to share your ideas on a platform that promotes storytelling, and to position your brand as the most trusted partner for your customers.
The challenge with quick, easy micro-copy is that it fails to make an impact. It’s like a quick-fix that we try to use in everything we do. However, quick-fixes don’t heal a burning pain-point. A thoughtful, easy-to-read, user-friendly guide does.
At Global Banking & Finance Review (GBAF), we help you help your customers. Here’s how.
Guest Posting: How it Works
Guest posting is the art of telling your story to your audience without shoving it down their throats. It’s not an advertisement, but a thought-leadership content piece that educates & promotes your brand to your target audience without interrupting them.
- Our editorial team works your content piece to present your brand on our website
- The sponsored articles adhere to the context, the tone, the voice of your brand and represent it in the way you’d like to portray to your audience
- The content piece is lucidly written and only does one job, i.e. educating your audience
- The piece is long-form of content that allows your target audience to engage with your brand longer (much more than an advertisement)
- It doesn’t distract, interrupt, or intrude the audience
- Sponsored posts are designed and articulated to solve the audience’s pain-point and showcase your brand as a solution-provider
Why Should You Run Guest Posts on GBAF?
GBAF is a platform that garners a community of over 135,000. Here are four reasons for which you should run guest posts on GBAF:
- We help you increase the engagement with your audience: We don’t depend on surveys to understand what your target audience wants. For the last ten years, we have been serving various kinds of readers. And we know them personally. Thus, we know how to place your content to increase engagement.
- We put your audience ahead of the marketing funnel: When you run an ad, you start from scratch. And as a result, the first step is always to start with the beginning of the marketing funnel. When you publish a guest post on our platform, your target audience already begins to trust you since we’ve put years of work in building the community.
- We help you generate leads: An ad is interruptive. When you submit a guest post on GBAF, it teaches instead. And directs the audience to take action. As a result, you generate more leads. In this era of marketing, the brand that educates better, profits more.
- We offer you cost-effective solutions: When you run sponsored articles on GBAF, you’re in charge of your budget. You decide how much you’d like to spend per month. And we support you with cost-effective solutions backed up with the results so that you can calculate your ROI upfront.
How to Submit a Guest Post on GBAF
- Check categories:
- B2B: CSR, Green Tech, AI & Big Data, Ongoing Training for Employees, Manufacturing
- B2C: Travel Destinations, Trends on Buying a Home, Working Remotely, Electronics
- Follow guidelines:
- Format: Word format
- Send at: [email protected] (or use this page to submit a guest post)
- Length: 750 – 1000 words
- Image: We need an image of the author (specifications: width – 800 px. & heigh – 600 px.) with original credits
- Additional requirements:
- Author Bio: Provide an author bio (name, title, affiliation, bio, and contact). You can add a link
- Profile: Give a brief overview of the company, key information about the company, major projects, certifications, and company logo. Please submit the profile in word format
We review your submission and if it adheres to our submission guidelines and quality standards, we will connect with you before publishing the article.
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