To You Who Feel Scared of Cutting Losses in FX
It's Kaerun here🐸
When I first started FX, my heart would skip a beat just hearing the word "stop-loss." Cutting losses felt like "admitting defeat," and I was too scared to do it. But now, I think I understand the true nature of that fear. In many cases, I believe the fear of cutting losses comes from feelings like "maybe it will bounce back if I wait a little longer" or "I don't want to lock in a loss." I was the same way. But when you really think about it, those emotions are actually born from internal psychological pressure rather than the market's movements.
From there, I gradually started to change my assumption that "cutting losses equals failure." One day, it suddenly dawned on me that cutting losses is actually the result of properly following my trading rules, and is instead an "act of taking care of myself." If my market outlook was off, acknowledging it quickly and resetting allows for a calm next trade. Once I was able to think that way, the fear of cutting losses gradually faded. Strictly following rules might sound very rigid when put into words. However, I feel that deciding "if it drops to this point, I will cut" without being swayed by emotions is also important for protecting my own heart. As someone with a laid-back personality, my judgment was easily swayed by my mood that day, so I created rules with the image of gently drawing a line, saying, "I'll endure up to here, but beyond this point, it's goodbye."
In FX, there are many situations where it is harder to keep going without breaking yourself than it is to keep winning. Anxiety about cutting losses is something everyone surely has. But if you are always afraid of it, it can conversely lead to large losses. That is precisely why I want you to perceive cutting losses as an "act of protection" and gradually get used to that feeling. I still get nervous sometimes too, but on days when I can properly follow my rules while facing my market outlook, I feel proud of myself. I hope you will also move forward at your own pace while accumulating such small moments of pride.
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