Should we ignore loss in Forex Trading?

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

  1. It matters where one is at using their strategy. If you are still building a strategy, then of course you need to analyse your trades. If you have a working system, then you continue to trade it out.
     
    #31     Jul 23, 2020
  2. yes, because any mistake or loss is a good experience for the future
     
    #32     Jul 25, 2020
  3. there is no way to ignore loss from this stock market, even professional traders some time faces loss during news and other time. its an inevitable part of trading, no way to ignore
     
    #33     Jul 27, 2020
  4. 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.
     
    #34     Oct 22, 2020
    Bill Marwick and Tradex like this.
  5. Will90

    Will90

    Ignoring losses is not the solution. Rather, try to embrace the loss, understand where you have gone wrong, so that the same is not repeated in future.
     
    #35     Oct 23, 2020
  6. kroxobor

    kroxobor

    Trading without stop loss is a time ticking bomb. Equity curve of a trader which trades without stop loss resembles equity curve of martingale trader: stable growth and then abrupt and steep fall. This happens due to the fact that wrong trades (entries) which can wipe out your account happen rare but they happen. Sooner or later you will encounter a trade which will be able to drive your account to the stop out ('natural' stop loss).
     
    #36     Oct 27, 2020
    tomorton likes this.
  7. You're right, Stop loss is the one of the best ways to prevent the magnitude of losses.
     
    #37     Oct 27, 2020
  8. You should definitely look for reasons for your loss and try to improve. But, I do not recommend dwelling on it because you need to be consistent.
     
    #38     Nov 6, 2020
    Jenci likes this.
  9. Jenci

    Jenci

    Well said!
     
    #39     Nov 6, 2020
  10. tomorton

    tomorton

    Don't ignore your losses. Even if they were just the down-side of your strategy's win rate, you still need to check you followed your own rules and procedures.

    As far as revising your strategy is concerned, there is more monetary potential in dissecting your winners.
     
    #40     Nov 6, 2020