Is losing a requirement to be successful?

Here's another question for you... Though I think this is an easy question.. Maybe another thinks otherwise.. Here goes..

Just like what the topic says, "Is losing a requirement to be successful?"

I don't know how you define losing so please do post your description so that we may know.. Also, please post your reason for voting such...

So anyway, in my opinion, losing is a requirement...
Losing for me is when you lost big time/bigger than what you intended by either over-trading or not following your cut loss..

I voted Yes because it was through this loss that I was shaken to my senses...

So if you think otherwise, then please post your opinion..

Happy discussion!

P.S.
Please also take note that the words I used were "to be successful" and not "in trading"..
But if you like, you can change it to "Is losing a requirement in trading?" but I doubt if anybody will answer "No"...

If you define losing as taking losing trades along your journey, then we have no choice about it, we all know that we will have losses sometimes, some more, some less, but we will all have losses, this is inevitable...

But if you mean by losing, to go broke, this is not necessary, some people make it without losing everything, some make it after losing everything and starting all over once again, and of course, some lose everything and never make anything...


Thanks,

Nader

If "losing" means to make the experience of regain with you own hands...
yes, it's a positive experience that make you a veteran, you have more points!

But it's not necessary!

a trader has to feel the pain of loss before he can fully respect risk. and respect for risk is essential to success. therefore i say YES, one must lose money to be successful.

I agree for the losses "per se" but, for the "catastrophic loss" I've many doubts...
maybe a beginner can be much wise than I was in the past!

But as I said before, if you can experience the "rebirth" you have some advantages for sure!

" Good judgement comes from experience and a lotta that comes from bad judgement "

--- possibly Will Rogers or maybe Yogi Berra


Lou

Absolutely, positively, EXPERIENTIALLY agree!!!

It wasn't until I lost a large chunk of money for the fourth time that I gained my 'rebirth'. The market is more than willing to give us money, and lots of it. But, the market has a fee. It insists on beating the crap out of us a few times first. Hey! Worked for me!


"Oh, the pain, the pain." - (Dr. Smith must have been a trader )

Being interviewed as a successful CEO in a fortune 500 company, he was asked what was the secret to his success. "Making right decisions" he replied. He was then asked, "How does one learn to make right decisions?". He smiled and replied, "by making a lot of bad ones and learning.."

I know of one trader who hasn't blown through any of his accounts. But ME...i have blown through 3 and now am live trading on a new one after taking a year of study, switching markets, and finding this great forum! So i've made a lot of bad decisions, including lock limit 5 days against me in pork bellies (why in the heck would i want to trade those??? Boy was that dumb )

All the replies here are right on, especially Merlins, as you learn to respect risk.

So now, i believe i am making right decisions and have learned a bit from my mistakes. now trading forex for one, having a concrete trading plan for 2, and a dedicated discipline and patience that i have learned and will continue to learn. I know this is an iterative process, but i have a "sense" that things are under control in a way i never felt before. Make sense to you guys and gals?

My intent is to be full time trading by end of summer.

Jim No

Makes perfect sense. As Croesus said, it is a rebirth, and it feels different, as if someone turned the lights on and cleared away all the dust and cobwebs that were clouding our vision. Afterwards, you know that you know that you know.

I found gold! Lookie lookie!

I think many will be reborn with the guide here in FF...

I don't believe that one has to lose his entire account before realizing mistakes have been made and taking steps to correct them. But i do believe losses have to occur in order for this humbling realization to take place. For myself personally, i lost about half my account before i started saying to myself "what on earth could i be doing wrong? Why is this so much harder than i expected?" Then my adventure started. Rob Booker was a big help with alot of it. But i absolutely, positively, most certainly had to lose money before i came to my senses about any of the stuff needed to succeed. The adventure still continueshttp://www.forexfactory.com/forexfor...cons/icon7.gif

Behold the lowly turtle,
He only makes progress when he sticks his neck out!

Trade and be happy Grasshopper.

I say YES...
it's like learning to ride a bicycle,
if you dont fall you will not learn,
(broker on left / you on right)

i say yes (coming from a newbie that has placed MANY bad demo trades)the losses will inevitably occur, so the only way that you'll head towards success is by learning to handle them and learn from them so that you can learn to avoid them as much as possible in the future.

I voted yes, in meaning that there are going to be losing trades...though for my personality it is helping me to progress in this game by keeping the following always on my mind:

Each trading day I win: Pips, Experience, or both

I go to the charts/tradestation beliving i will win every day. No exceptions. That doesn't mean my account will grow! . . .But my knowledge base sure does ; - )

When there is no pain, there will be no gain...
But when you fall, fall forward. At least you made some progress...
KT

Yeah,I agree. I also lost some in beginning and now is much better.

There is no way comparing demo trading with real. It is comparing apples with pears, even though it is all still fruit.

The psychology behind real trading is so much different. Just try and feel your heart beat in your throat watching the trend go against you...
KT

So true KT. I'm greatful for firms out there allowing for "micro" 1k lots. It was really funny the first week of live trading. I was amazed at how my emotions were alive and kicking (which i thought were under control during my demo days) ...even though i might make (or lose) a whopping 2.00 per lot in a 20 pip chart run!

PS. For this reason i began looking at the market volumes and have now included in my routine time to demo trade on a weekly basis...my demo trading takes place on Mondays and also on Fridays if my weekly PIP goal has already been met by Thursday. I have yet to have a trade open over the weekend, though with this forum/team's help i am venturing out to longer time frame charts. . . and that i believe is a good thing.

oh i just read this in an e-book (my vote was "yes)

"losing is part of the overall winning"