How do you handle your losses?

[bigdolly]

We are all making mistakes, its an important part of learning. We have to realize it otherwise this will be waste of time and money and its better to find something else, like office job where responsibility for business success is limited for you.

 

[dianajs]

That is a good point. Realizing and admitting - to yourself, above all else - that you are not infallible is the first step toward learning how minimize one's errors.

 

[scott11]

Now I'm mentally prepared to losses in forex and I understand that it's inevitable. I try to follow the rule that if I get 2-3 unsuccessful trades in one day, I stop trading. I don't try to return the money cause it doesn't usually end well.

 

[Bvikech]

I try to analyze my mistakes and then understand why my trade went wrong and I lost money.

 

[Bvikech]

I try to analyze my mistakes and then understand why my trade went wrong and I lost money.

 

[EURUSD]

However loss in trading sometime inevitable, we can't avoid loss in trading but we can minimize these risk with keep trading using risk management and trying to improve strategy and analysis market, if we can making higher good analysis hence profit will come and loss will be minimized

 

[dianajs]

I try to analyze my mistakes and then understand why my trade went wrong and I lost money.

How do you handle the psychological aspect of it? Do you do anything beyond what you describe?

 

[EURUSD]

Actually we can't control the market,as trader only following the trend market, although before making decision they already analyze the trend using indicator etc, but eventually after making trades on the market hence they will only follow the trend, if trend market hit stop loss they will losing money, if hit target will getting profit, and because dynamic movement psychological aspect usually has high role in trading

 

[Kokomaster]

Cut your losses as soon as possible is the approach I am using now. It is really helpful because we should be out of losing trades and look for new trades. Keep holding the losing trade will not help in long run.

 

[dianajs]

Sometimes losing trades turn around and the charts give clear signals about that. I don't think that cutting a trade immediately when it becomes losing is a very good idea.