True though. At the same time, beginners shouldn't lose hope if they incur losses. Losses are a part of each trader's life and the only thing we can do is try to fix the reasons for the losses be it in our strategy or other.
No forex trader should ignore losses; you need to find a conclusion and analyze the mistake so that it can be avoided in future.
I think one should understand the fundamentals reasons why a trade went wrong. But you cant linger. Need to move on to avoid the negative psychological effects. I think the best traders are slightly sociopathic when it relates to their p/l.
If you follow your plan and stick to the rules you don't have to worry about losses and take is as natural property of any trading strategy - it generates losses and profits but makes the latter more often so your expected value per trade is positive. That's the key to successful trading - you focus on statistical characteristics of your returns rather than paying attention to loss in some particular trades.
I'd say do not take minor losses too personally that it starts affecting your mindset but it is important to understand the reason why you are facing those losses.
Yes, if we always think about loss every time then we cant focus on the next level to reach at right goal.
Trading Forex requires a number of skills that need to be developed over time.There are great opportunities if you want to learn or develop a winning strategy and execute it reliably.
If you follow your plan and stick to the rules you don't have to worry about losses and take is as natural property of any trading strategy - it generates losses and profits but makes the latter more often so your expected value per trade is positive. That's the key to successful trading - you focus on statistical characteristics of your returns rather than paying attention to loss in some particular trades.
In each of your plans, you should calculate the options for what may be losses and just take them calmly.