This is a nice article from the guys at Babypips.com that we posted at our Facebook page:
We got a lot of feed-back about it from our Facebook fans, but no doubt one that really surprised us... here it goes:
John Long Treat losses like ur ex wife. You know u have to see her. But you want to make it as little as possible and as short as possible. But when u do see her you're nice to her cause she can release the Kraken if your not!
Treating Loss as a Close Friend
In life, there are ups and downs. There are times when the good things just seem endless and you feel invincible. But there are also be occasions when you feel that everything is going against you.
This happens in forex trading as well, but it comes in the form of winning and losing. Winning and losing are a constant in forex trading, but there are some traders, most especially the new ones, who can only handle the former.
Winning is all they can cope with, and they consider losing as unacceptable. This kind of mindset is unhelpful, destructive, and even self-defeating.