As a forex trader, you must learn to take losses. Period. Don’t be a crybaby. Learn to take losses.
Learning how to take losses is one of the most important lessons you need to learn if you want to survive as a trader. No one is right 100% of the time. Losses are inevitable. Even Michael Jordan and Tiger Woods lose sometimes and they are considered the best in their field.
There will be trading streaks where you will have a number of successful consecutive trades, but that will eventually come to an end you will take a loss. At that point it is very important not to lose your head, you need to stay in control. Do not have a cow man.
Take a break. Calm down and relax. Take a chill pill, dude. Until you regain a clear mind and the ability to think logically, stay out of the market. Don’t whine about your loss and never carry a prejudice against a loss. The key to dealing with losses is to cut them quickly before a small loss turns into a big one.
I repeat. The key to dealing with losses is to reduce them quickly before a small loss becomes a big one. Never think that you will never lose. That’s just ridiculous. Losses are just like gains, it’s all part of the trader universe.
Losses are inevitable. Get over the loss and move on to the next trade.