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.