Importance of Losing in Forex Trading

[Isabella Fox]

We can all agree that winning something is absolutely amazing,
especially if it is money. On the other hand, losing in forex trading
can be closely compared to taking a beating. Could this be the reason
why forex trading is so attractive, scary and yet no less fascinating?
Losing is a relative term and it differs from person to person. Based
on time, self-confidence, financial situation, forex trading history
and many other factors losing has different psychological effects. For
forex traders with bank account full of thousands of dollars losing
couple of hundreds won't do a thing. At the same time a forex trader
that cannot really afford a loss can go berserk! What do I mean by not
being able to afford it? Let's just say that your wife told you a
month ago that you cannot use any more money for trading plus this is
your 10th lost in the row. Do you get the picture?
After losing some I won a generous amount of cash the other day. There
I was sitting next to my computer monitor trying to stop the set of
uncontrollable giggles that erupted right after the winning. This made
me think - in the word of forex market, can forex trader feel the same
excitement without losing? Is lolosingsing a necessary piece of a
puzzle to enjoy forex trading?
The psychological and physiological reaction of losing is of course
pain. losing a trade really hurts! And it hurts for real - your
stomach turns up side down, your blood pressure goes bonkers, your
muscles become so tense you can hardly breathe. It hurts more then a
"no" from a girl you had a crush on in high school. As forex traders
we have all been there.
Not just as forex traders but as humans the idea of pain is
unbearable, so to get rid of the discomfort we try to find a way to
get rid of the emotional rollercoaster. And you do it by clicking into
another trade! What is the ultimate pain losing technique? Winning!
And you want to make a good forex trade as fast as possible! And that
is a perfect example of a complete disaster - you lost and you are
extremely upset. On top of that you have exhausted from previous forex
trades, your eyes hurt, your back is in pain, you have a horrible
headache... all that accompanied by the pain of losing 5 minutes ago.
You want to feel better physically and physiologically. You want to
show yourself that you are a great forex trader and to redeem your
self esteem. Patience and a sense of reality go out the window and you
impulsively make new forex trading orders without thinking straight.
What is important to realize that you are experiencing when you loose
is out of your control. The physiological pain is controlled mentally
and only patience can save you right now. Good forex trading requires
lots of patience, good strategy and a positive attitude. You should
not trade in a hurry. You should not forex trade when your body is out
of control.
And here is the list of things you should understand and follow:
- You won't feel like a complete loser after every forex trading lost,
however it is important to know the triggers that turn on your
psychological pain after loss. Recognizing the symptoms can save you a
lot of money.
- Adjust your forex trading so that the opportunity of feeling the
loss doesn't happen too often. By that I mean trading with fewer
amounts, or maybe setting stop loss better. The advantages of forex
trading are of course the features and options forex brokers provide.
Use them for your own good.
- When you loose, recognize it and step back. Turn the computer off,
take a shower, go for a walk - cool down. It is important to change
the atmosphere in order to not get too evolved in your own emotions.
Physical loss reactions need physical action from your part. Stop
forex trading and do something completely different, as far away from
your computer as possible.
- If forex trading affects your life, finances or your family you
should consider getting a professional help. Yes, sometimes forex
traders need a shrink. Maybe forex trading isn't for you in the first
place.
Still, my question is whether the beauty of winning would taste as
sweet if we didn't sometimes lose trading forex. I can almost
certainly say that it wouldn't. Losing is a necessary part of forex
trading. Without it profiting should be too easy...too simple... too
shallow!

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