Should we ignore loss in Forex Trading?

Discussion in 'Forex' started by Coner1980, Jun 16, 2020.

  1. Mesida

    Mesida

    It depends on what kind of loss it is.
    Certainly, losses are an integral part of trading. All of the traders, even the most skillful and knowledgable, have losses from time to time and if you had a kind of small and occasional loss, then there is nothing bad with that. All you've got to do is just to put up with the fact that the markets are mainly unpredictable and there is always the room for occasional fluctuations. However, losses can be different.
    If you keep on losing on the regular basis, then such losses should be thoroughly analysed in order to find the mistake or weak point in your trading strategy. It would be stupid to have consistent losses and ignore them as if nothing has happened. The only thing you are to expect from it is just to keep on losing your personal money. If you have losses as a rule, it means that something doesn't work properly in your trading strategy or maybe some of the rules for making decisions became outdated and they don't provide you with the right information no more. That is why the vast majority of traders claim that trading strategies should always undergo some changes and modifications in order to catch up with the alterations which take place on the market.
     
    #121     Oct 29, 2021
    murray t turtle likes this.
  2. Esha.J

    Esha.J

    Losses could be never neglected and I have seen that the ones who neglect it always ends up losing it all.
     
    #122     Oct 29, 2021
    murray t turtle likes this.
  3. %%
    That depends.
    How much profit have you made, say this year,+ past 2 or 3 years ;
    + how have you done in comparison to SPY+ IWM??
    I seldom use IWM as a benchmark, to easy to beat, mostly.
    Actually my last trade on FRI, i did not bear SPY on FRI, but that SPXL multiweek trade did fine even though i underperformed SPY, FRI.
    I never did trade 4 x\Forex, Don Bright Daytrading Co never did like it, so i learn from others.
    Back to my SPY,SSO charts................................................................
     
    #123     Oct 30, 2021
  4. It is important to reflect on your loss, this is the only way you can save yourself from repeating the same kind of mistakes over and over again. So ignoring is not an option but there's a difference between reflecting and sticking to the loss. Don’t attach yourself to the outcome of your trade. Analyse what went wrong and simply move on.
     
    #124     Nov 8, 2021
  5. kroxobor

    kroxobor

    Only losing characteristics of series of trades (the more the better) matter due to law of large numbers
     
    #125     Nov 8, 2021
  6. Esha.J

    Esha.J

    You should have a stop-loss order for every forex day trade you make. A stop-loss is an offsetting order that gets you out of a trade if the price moves against you by an amount you specify.
     
    #126     Nov 10, 2021
  7. No, you should not ignore loss in Forex Trading; it can help you make better decisions. Use stop loss strategies to minimise your losses though.
     
    #127     Nov 15, 2021
  8. Dr_Trade

    Dr_Trade

    Losses can never be neglected nor they let they us to do so. Psychology plays a role here.
     
    #128     Nov 15, 2021
  9. I don’t think that ignoring losses in forex trading is even an option. Even a small loss can have a great impact on you if you don’t know how to manage it. In fact, losses can teach you some important trading lessons that you won’t find anywhere else. You will know what you did that resulted in a loss so that you can avoid making the same mistake in the future. Keep a trading journal to have a record of your trades, they work great in helping traders grow with time.
     
    #129     Nov 16, 2021
  10. Esha.J

    Esha.J

    Losses are never to be neglected in Forex as they could never be avoided and hence you should learn to trade to make more profits than the losses incurred.
     
    #130     Nov 16, 2021