It matters where one is at using their strategy. If you are still building a strategy, then of course you need to analyse your trades. If you have a working system, then you continue to trade it out.
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Should we ignore loss in Forex Trading?
- Thread starter Coner1980
- Start date
yes, because any mistake or loss is a good experience for the future
Trading without stop loss is a time ticking bomb. Equity curve of a trader which trades without stop loss resembles equity curve of martingale trader: stable growth and then abrupt and steep fall. This happens due to the fact that wrong trades (entries) which can wipe out your account happen rare but they happen. Sooner or later you will encounter a trade which will be able to drive your account to the stop out ('natural' stop loss).
You're right, Stop loss is the one of the best ways to prevent the magnitude of losses.You should have a stop-loss order for every forex day trade you make. A stop-loss is an offsetting order that gets you out of a trade if the price moves against you by an amount you specify.
You should definitely look for reasons for your loss and try to improve. But, I do not recommend dwelling on it because you need to be consistent.
Well said!You should definitely look for reasons for your loss and try to improve. But, I do not recommend dwelling on it because you need to be consistent.