How do you handle your losses?

[Felhamand]

tough enough... years in trading and I still can't properly control my emotions. All the losses make me feel so sad that I have to take a few days break in order to restore my mental health... well, here everything is individual, and one trader can easily perceive losses and mistakes, while other ones try to abstract from trading at all for a while. I am from the second group of traders, I start feeling so depressed, but I understand that it's a huge part of trading and experience coems with these losses and mistakes. I can't do anything with such a situation and it also makes me a bit sad, but anyway I continue trading.

 

[GoldmanSach]

Review my plan and see if any discrepancy arise.

My risk is often 1% up to 2%, certainly felt the pinch for high probability setups (which requires great dose of patience).

At times, I do deviate slightly from my plan approximately +1% risk, after taking the brunt I will walk away for the entire day.

After a string of consecutive 3 losses, I will stop for the day and treat them as an expensive lunch/dinner with fake friends. Never will I complain about slippage, spread widening, manipulation yada yada.. One must learn to accept the loss and move on (else change your broker).

Cheers,
GoldmanSach

 

[Kelemeena]

Losses can be different and they need different approaches, I guess. Some of the losses are caused by the accidential financial movements and there is nothing which can be done. However, there are also systematic errors which happen pretty regularly and bring about lots of losses. In such cases you need to analyze all of your trades very carefully and make notes in order to have enough data for the further analysis.

You're right... Loss is a teacher, it's the best teacher as well as mistakes. If traders make mistakes, then it points at his ability to learn, study and receive experience. Those ones who can't admit the losses or mistakes will never be able to reach success, as the mistakes ar the fundamental things in trading for all.

Without a doubt, there are dozens of successful traders who either has never met losses (perhaps there are no such ones) or they made a bit of mistakes, but it's just an exception. As a rule, all traders pass the same route and path. Mistakes, admitting mistakes, making conclusions from mistakes and finally development.

 

[Melinda Danut]

A break away from the market, take it as lesson. Dont always consider it a loss

 

[PaulaS14]

Any failures and losses need to be analyzed so it does not happen again in the future.

 

[fxoday]

Any failures and losses need to be analyzed so it does not happen again in the future.

Although traders already learn from failures and set new rules sometimes possible still get loss, here also need to understand how to choose pairs and market condition to take easier profit.

 

[Ledner]

Although traders already learn from failures and set new rules sometimes possible still get loss, here also need to understand how to choose pairs and market condition to take easier profit.

it takes a lot of learning, getting new information and following the market. It's not an easy way as many begginers think who want quick money.

 

[wifeofcronus]

I take them as a lesson. I never lose I learn.

 

[MERCEDES0398]

I go swimming and I hope not to drown there too

 

[Investfox]

I personally learned a very good lesson when I was taking my initial steps in Forex trading, which is to control my emotions. When I experienced losses, I tried my best to keep calm and don't get angry, or else even worse things would have happened. Apparently, my approach had tremendous effect in the long run and I managed to achieve successful results.