You have to learn how to inspire yourself above those feelings and you can do that like this....each time you lost a trade look inside how you feel and just feel it pay attention if a thought show up, and change your state of mind by asking yourself questions...like what can I learn from this trade ? if you do that again and again you will realize a new state of mind as a winner !
How should a trader feel about losses?
- Thread starter Rambo35
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Of course it is a bit depressing to carry losses, but this period should be considered particularly carefully as you are making mistakes there which you have to learn lessons from. It is an important part of improvement processes where you pull up your trading skills and cast off wrong actions..i.e. become better trader.
Naturally, a trader should feel bad after a major loss in the market because it’s your money that is going down the drain; never make the mistake of trying to recover your losses with your subsequent traders by staking larger amounts in your market; this is a recipe for major failure.
Traders should be ready to take up the losses and profit equally and show no emotions towards the profits or losses made. Infact most of the professional traders assess the potential of loss first and then calculate for the gains that which they can make in the forex trading business.
The professional traders that I've seen in action try to be rather unemotional about it. Risk and loss are in inherent in the business, and when the market moves against you, they make a quick and rational decision to cut their losses.
I never lose, either I win or I learn from it.
It's not smart to keep a loss trade for a long period on your mind.
Evaluate the trade look what has gone wrong and try to adjust your strategy in order to prevent this.
It's not smart to keep a loss trade for a long period on your mind.
Evaluate the trade look what has gone wrong and try to adjust your strategy in order to prevent this.
Basically, I feel a trader should see losses as a chance to try again on an improved level. To me, your number of losses should reflect on your level of experience. Because when you lose when using a trading strategy and you could trace the cause of the loss, you already know which way wouldn’t give you profits. This is experience and this way, every loss helps to perfect your strategy the more.
Any experience (especially) negative experience is very very important for future progress. If you have nothing to learn from the loss today I assume you will next week (even next month). Mistakes are memorable things, just accept it as lesson and do not consider that as a loss.
Absolutely correct. For example you cannot learn cycling until you have fallen twice or thrice. Forex is the same you learn with your mistakes and your losses.
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