That's true, just like I use to say, if you don't have a good mindset in trading you are not going to have the best results you are looking for,a lot of people don't really know this.
How do you deal with loss of your investment in forex trading?
- Thread starter Kayzzy3
- Start date
This is an important thread because it truly defines what the successful traders do in loosing periods streak as opposed to the unprofitable ones. They always learn from their errors.
That's just the fact, that's why you need to have the knowledge before you can invest your money, if you don't know how Forex trading works then you need to work on yourself.
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That's true, if you want to succeed in trading you need to have the right mindset, this will help you a lot, having a proper mindset is very important in trading.
One of the things that anyone that wants to go into the trading of forex is that they should be able to know that the trading market is volatile and the price of commodities as well as currency can change.
And you may never have an idea of when that will happen that is why I proper stop loss is very important to enable you cut your losses based on what you are willing to lose.
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You have a good point there, This the first thing you need to have before you can take a trade, if you don't have the right mindset you are not going to have success.
The best time I grow and develop as a trader is the time I incurred loses.
It humbles me and offers me the opportunity to learn the reason behind my failure.
It humbles me and offers me the opportunity to learn the reason behind my failure.
That's true,a lot of new traders don't understand this, if they take a losing trade they'll just give up, those kinds of people will go with the mindset of forex trading is a scam.
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I always go into the market with the mindset that they are some of my trades that are not really going to go the way I wanted . This is completely normal because you cannot have a 100% win rate.
This is indeed a wonderful mindset and I believe that it would help you become consistently profitable in the long run.
In as much as you learn from your losing trades
That's true, if you have that mindset you are going to get what you want, sometimes what we do might be proven wrong by the market, having that kind of mindset is good.
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I always have a plan on how much I can risk or throw out in a trade. This means that I can decide that I only want to lose about 3% of my capital and whenever I enjoy too many losses I just take a break.
That's just the fact, just like the popular sayings if you failed to plan you have planned to fail, if you are not good at planning I don't think forex trading is for you, a lot of people don't get this.
Back in those days I do use hedging to recover some of my loss so I think that you can choose to spend some time thinking of how to deal with loss because it's must happen I use hedging most of the time ,also apply stop loss and take profit to ensure your trade is safe from unexpected loss
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One should enter the forex market with the awareness and acceptance that it is possible to lose money. Plus you should invest with an amount that you have decided and accepted that you can afford to lose it. But still make sure to trade with good skill and strategy. This mindset will make it easier to accept loss.
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