Learn from your mistakes

[usman7290]

When I started Forex business some years back, I do feel bad when I lose a trade but now each time I lose,it gives me the opportunity to reassess my self and where I go wrong but when I make profit, I still do not learn, so when do you learn more? when you lose or when you make profit.

In addition, I learn by my mistakes and failures in trading, and I think it increased my experience and earned some profit in my trading and I want to learn more in order to be successful in trading Forex. I learn in both cases , when I lose I try to find clearly why I lost and what mistakes I did , then I tried not to repeat them again , also when I make profits I know why I made that profit and what is the right decision that I took to make this profit , in both cases we must make use of the event.

 

[Forexmospherian]

Learn to lose - keep losses small - accept you will lose ( that's written in the rules of the game - and move on making sure your method can give you more wins than losses ideally - but most important larger pip wins than what you lose ;-)

GL on your journey

Regards

F

 

[wino59]

When I started Forex business some years back, I do feel bad when I lose a trade but now each time I lose,it gives me the opportunity to reassess my self and where I go wrong but when I make profit, I still do not learn, so when do you learn more? when you lose or when you make profit.

In addition, I learn by my mistakes and failures in trading, and I think it increased my experience and earned some profit in my trading and I want to learn more in order to be successful in trading Forex. I learn in both cases , when I lose I try to find clearly why I lost and what mistakes I did , then I tried not to repeat them again , also when I make profits I know why I made that profit and what is the right decision that I took to make this profit , in both cases we must make use of the event.

I think you are looking at this wrong... Keep in mind when ever you place a trade you are trying to predict the future, or what someone else is going to do. Not sure what method you are using but if you trade the same setups every time and your winning percentage is where it needs to be based your risk and rewards then you will be profitable.

The thing to remember is that it is not about what you did wrong, but it is part of the game. You need look at your whole system and determine where you can make improvements. But if you are trying to never lose, then you will be beating a dead horse.

Keep your losses small, know when you are wrong and get out of the trade and move on to the next. An exit strategy is as important if not more so than an entry.

 

[neil]

Although, we all make mistakes sometimes and no one is above mistakes, but we have to realize them and learn from them. That is, if we really want to succeed in the forex business.

It seems English is not your mother tongue -so:

Do you mean,"We all learn from our mistakes (so use a demo account before trading with your money on a live account?")

 

[gerryg]

It depend on your attitude to your trading. For me losses and gains are equal in giving lessons to me..

 

[egrey]

Every makes mistakes or bad trades sometimes - even the big boys. (And at least we don't have other people's money or even the fate of a financial intuition riding on our trades!)

As part of getting my started, I've been looking at some of the really big mistakes and seeing what I commonalities I can find between them.

After all, it's cheaper to learn from other people's mistakes than my own!

Going to be making sure that I diversify my investments - after all, Amarnath was brought down by over investing on natural gas. So learning Forex trading is just going to be one part of my investing strategy.

And making sure I really understand how to analyze risk and hedge if needs be is up there too!