Always ensure that whenever you take a beating on the trading floor you know exactly what went wrong and how. You must always know where your mistake was committed and how you can avoid it in future. This kind of assessment requires that you be entirely honest with yourself about your personal performance and evaluate yourself on a fair basis meticulously. Ask yourself whether that error lied in your choice of approach or in the computational analysis. However the tougher question would be to answer if you have been over-cautious or over-greedy and thus made a bad deal at the wrong time. The only thing you can gain from this incident is the knowledge of how and where you went wrong, so spend some time and be honest with yourself and extract that knowledge to the fullest.

Poor planning is usually dwarfed by greed or panic in a failed trade. Also its best to avoid sentiments from creeping into foreign trade. The problem here is that most people find it difficult to remain unattached to the money they are spending. Ideally the easiest way to solve this is to have a plan and remain attached to it rather than the money. The main key is to discipline your mind in to making quick, efficient decisions free from voracious ends or hesitations and making them in the right time. If you are unable to gain this control then its almost a given that you will lose money in the foreign exchange trade.

Thus its important that you understand that losses are a part of foreign exchange trading and that you can still convert it to a victory if only you can evaluate where you went wrong and get right back in to the fray a wiser man. You will invariably make more errors and lose some more money, but make sure you learn from each and everyone of them and grow more market savvy.