If you fail at something you love doing. you fail again and again . dont worry its through out that failure where you will find your wins. And dont worry about being judged an criticized when failing. You will also get criticized when you are winning too
“Oh I just lost some money, guess I better quit Forex once and for all or spend the night weeping” – many traders feel this every time they lose money while Forex trading in Pakistan. Losses, profits and breakevens are the only possible outcomes for a trade, and let’s be real, profiting all the time is impossible. Traders tend to have these unrealistic expectations of making profits round the clock, and completely dodging losses. No matter how sharp an approach you adopt, losses will find their way in. Either you make a mistake or two, or the market itself grows erratic – one way or the other, you have to lose money, and you shouldn’t be afraid of it.
While wanting to avoid losses is natural, you have to realize that losses themselves are a natural part of Forex trading as well! Instead of getting saddened by them, you can find motivation in them and use them as stepping stones to get ahead.
1) You Get to Better Your Techniques: The hard way of learning is sometimes the best way. When you lose the money you’ve spent a good time earning, the value lost seeps inside your head and this inadvertently helps you improve on your Forex trading techniques. Once you have figured out the reason behind the losses made, improving on them becomes much easier and this improved approach of yours has better chances of making an impact on trades!
So when you lose money either through mistakes or a poor strategy, take it to heart – but in a positive aspect. Let this only push you to better your means.
2) Find Out the Faults in Your Approach: Analysis is a skill Forex traders pick up as they go, and losing money is a catalyst to this. When you make losses in trades and spend a good while analyzing it, you are bound to find the leak and close the gap! Money lost gives you the perfect opportunity to reverse-engineer your strategy, find the faults and make sure you never make that mistake again.
3) Effectively Manage Your Capital: Ultimately, Forex trading in Pakistan comes down to managing capital. You need to preserve your money to trade another day, but when you lose a good chunk of it, things get difficult. Losses teach you how to better manage your capital.
In your tenure as a trader in the markets of Forex , you will see losses on many days. Don’t be deterred by them! Truth be told, when starting off, losing is the best way to eventually end up winning. When you learn things the hard way, you won’t forget the lesson. Want to perfect your trading approach? Sign up with EXNESS and our Blog will guide you through the bad trades and take you to stellar profits!
