Learning to Lose!

Filed under: Learn Forex Trading |

I ended today’s Daily Trade with the phrase: “if you want to win, ultimately, you have to learn to lose!” I would like to elaborate upon this statement for today’s forex-related article and show you just how important taking a loss is in forex trading.

 

I find it strange that we live in a society where losing is such a thing of shame. That fear of losing is instilled in us all through our school life – from sports, to tests and exams. It is not so much succeeding that drives us, but the fear and shame of losing and disappointing those in our corner. But this is not really how human nature and human evolution works. In order to walk, as babies, we must first fall down. And then fall again… and again… and eventually we learn from it and begin to walk. Evolution itself is a system of trial and error, and eventually, the best way of doing something is discovered. I wonder how many times people tried to make fire before they actually succeeded? If they were afraid to fail and never even tried in the first place, we would not be here today. But somehow, being afraid to fail has become a part of our culture. And it is this fear that stops us being as successful as we can be.

 

When trading forex, or any other market for that matter, we have to learn to lose. We have to learn to get over that awful feeling of losing money. So it is not losing money. Instead, think of it as the cost of doing business. It is simply not possible for anyone to have a 100% trading record. Losing has to become a part of trading, just as winning is. The two come together in a package and if you don’t accept it, then you will simply not evolve.

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