Should we ignore loss in Forex Trading?

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

  1. Zalak

    Zalak

    It’s probably impossible to completely ignore it, well, it’s probably worth treating calmly.
     
    #11     Jun 18, 2020
    Devin larrson likes this.
  2. oraclewizard77

    oraclewizard77 Moderator

    I would at least review your trade and see if you can determine if you made a mistake by taking that setup.

    Also, if you have a charting program like NT, it can create a report including your win%. As long as you are within your back tested win %, you should not worry about losses since just like wins they are a part of trading.

    Obviously, you do need to have a setup with an Edge. An Edge being a trade setup with positive expediency.
     
    #12     Jun 18, 2020
    tomorton likes this.
  3. The sun cannot shine daily in forex so losses will happen. All you can do is analyze the reason for the loss and find out the mistakes that you have been making. This will help you in planning a better approach for your future trading and possibly would minimize the risk.
     
    #13     Jun 22, 2020
  4. RedDuke

    RedDuke

    This is a typical beginners response. Why would a loss be considered a mistake ??? Ask yourself this question and trade accordingly.
     
    #14     Jun 22, 2020
  5. BreezeTen

    BreezeTen

    I think we should not ignore losses. We should accept these losses and learn from it. By analysing your past trades make your future trades better and profitable. Being emotional can destroy your trading. Look back and find your mistakes. Move on and work on your mistakes. I hope you get your desired results on your future trades.
     
    #15     Jun 23, 2020
  6. My thoughts exactly.
     
    #16     Jul 17, 2020
  7. kriskon

    kriskon

    In my opinion, you should not unequivocally ignore losses, they should be perceived as signals that somewhere you are doing something wrong.
     
    #17     Jul 18, 2020
  8. tomorton

    tomorton

    Its essential to review losers to ensure that you followed your strategy. If you followed your strategy exactly, then you also need to review the markets from a wider perspective to ensure that your strategy still matches the current overall market conditions - really this should have been done before you entered the trade.

    Assuming both these points are met, no further work needs to be done on losers.

    However, there is always more potential reward from review work on the winners.
     
    #18     Jul 19, 2020
  9. virtusa

    virtusa

    Ignore is something a trader should never do. Don't ignore losses, don't ignore profits, don't ignore anything.

    For everything that happened (positive or negative) you should try to find an answer. So omitting things that have an impact on your performance makes your conclusion unsure.
     
    #19     Jul 19, 2020
  10. if you are really trying to progress and move forward, then any loss and defeat should be taken as a personal experience and already learn from this!
     
    #20     Jul 20, 2020
    Devin larrson likes this.