Never ever be afraid of taking a loss

[Hlamie Jr]

Never ever be afraid of taking a loss.

This is always a psychological barrier which is there in the 2nd or 3rd year.

Some people never get over this non sense and soon it grows into a habit.

This is one of the reasons SAM BANKMAN-FRIED lost billions.

In an interview his girlfriend openly admitted to not using a stop loss to manage losses.

There are many Sam Bankman's here and here is what they say

-I use a mental stop loss.

- I don't use a stop loss.

-Let me move my stop.

Remove this garbage from your head and allow yourself to be wrong.

 

[Charles Agustin]

Loss is a part of your trdaing so don’t think about it much because it will weaken you. 90% of the Forex traders fail in the market just because they don’t know the right tactics of trading. Most of them are not interested in learning too that carries a bad fate for them.

 

[AlexA89]

I struggle with this too as a new trader. I often find myself having my SL just too sharp.
If i give the trade a bit of room, i would have been kicked out way less.
I try not to look at how much i would loose now when placing my SL, that helps a lot.
Looking at the pct not the dollars.

 

[lurhays]

Emotions can have a significant impact on trading decisions, particularly when a trader is experiencing losses. A stop loss order can help prevent a trader from making impulsive decisions or holding onto losing positions out of fear or hope for a rebound.

 

[myroxyxy]

Never ever be afraid of taking a loss.

This is always a psychological barrier which is there in the 2nd or 3rd year.

Some people never get over this non sense and soon it grows into a habit.

This is one of the reasons SAM BANKMAN-FRIED lost billions.

In an interview his girlfriend openly admitted to not using a stop loss to manage losses.

There are many Sam Bankman's here and here is what they say

-I use a mental stop loss.

- I don't use a stop loss.

-Let me move my stop.

Remove this garbage from your head and allow yourself to be wrong.

very true word

 

[haswan79]

thank you for your sharing, usually i had my trading plan to help me on my trading.

 

[gy76]

True,thanks for your words of wisdom never burnt , never learnt.

 

[John Miller]

I know that losing an opportunity hurts but if you grow worry, you will lose the spirit of utilizing the next opportunity. If you are a trader, you have to learn to suffer losses. I use the micro account of Eurotrader broker so the number of losses is lower here.

 

[skrimon]

You're absolutely right! In the world of trading and investing, it's important to embrace the fact that losses are a natural part of the process.

 

[Fin_Trader]

Yes, losses are part of trading. But in order not to be afraid of them, you need to be able to minimize your losses by trading with risk control, correctly calculating the lot size in transactions according to the size of your deposit and setting stop losses in transactions. Losses can also be due to poor trading conditions at the broker, when there is frequent terminal freezing, frequent slippage, so for successful trading you also need a reliable broker with instant execution and small spreads.

 

[Fxzombie]

Forex traders must be willing to take risks. In forex trading, no risk and hence no gain, traders must get rid of the fear of loss, as long as they are guided by risk management, losses will be well controlled.

 

[pippin]

Never ever be afraid of taking a loss.

This is always a psychological barrier which is there in the 2nd or 3rd year.

Some people never get over this non sense and soon it grows into a habit.

This is one of the reasons SAM BANKMAN-FRIED lost billions.

In an interview his girlfriend openly admitted to not using a stop loss to manage losses.

There are many Sam Bankman's here and here is what they say

-I use a mental stop loss.

- I don't use a stop loss.

-Let me move my stop.

Remove this garbage from your head and allow yourself to be wrong.

The ability to overcome the psychological impact of a loss is a key task for a beginner trader, as many lose control of the situation after experiencing a loss. They often start acting recklessly, trying to recover quickly by increasing risk, or, on the contrary, they wait too long to enter a position, missing profitable opportunities. The skill of maintaining balance comes with experience.

 

[Fin_Trader]

There will also be fewer losing trades in trading when you have your own proven and optimized trading strategy. After all, your degree of fear in trading and, accordingly, the quality and comfort of your trading depend on profitable trades and their quantitative superiority over losing trades.

 

[pippin]

There will also be fewer losing trades in trading when you have your own proven and optimized trading strategy. After all, your degree of fear in trading and, accordingly, the quality and comfort of your trading depend on profitable trades and their quantitative superiority over losing trades.

Yeah automated strategy works much better than manual trading because it helps to make trading decisions much faster which gives advantage