Most Forex traders have serious issues accepting the inevitable; loosing trades are part of the business. You have to develop the mentality to live today and fight tomorrow, never try to get back at the market when you lose a trade. You will surely make wrong decisions when you try to fight back because in this state, you will be emotional. Learn to embrace loss trades when they show up and wait for another clear opportunity before opening another deal. It’s not about participating every now and then, it’s about participating in a high winning potential trade, even if it comes that you are not having entries in a day or two.
The Market is willing to take all from you and render you penniless irrespective of your race, political status, age, skin color, marital status, gender or financial background, so you have to be cautious, patient and humble when dealing with the Forex market. You can’t arrest or hold the market at ransom for taking from you; the market can’t be felt because it is abstract and yet there is more than 4 trillion dollars downloading every day in it. Personally I have experienced a terrible loss seven years ago in my early days of trading due to revenge. It was then I realized Forex trading isn’t a game like boxing, football or basketball where you can attack or tackle your opponent.
In trading once you initiate deals, all you can do is sit and watch the outcome of the trades. The market will move towards the direction it wants to no matter how perfect your analysis may seem. This is a major reason why there is no Holy Grail trading system in Forex trading. I always advise traders to always make use of ‘Stop Loss’ because it saves your account from being wiped out and also gives you another opportunity to fight tomorrow. Losing a battle does not mean you have lost the war.
In conclusion, Forex trading is about the give and take principle. Successful traders always give less to the market and take more from it. Make sure you win more trades than you lose with a good risk to reward! When loss trades show up, smile and always have the mindset “there is always another day”.