I lost alot of money when I got started and yes discourage. I believe every trader has to go through this experience. It just makes us better traders. When I lost money, I think of it as though I have temporarily give away that money to the dealer because I am going to get it back but I am not in a hurry to enter the market again and most likely make another mistake when that happen. I am still learning this market. The one thing that helped me most is to focus just on 1 currency and get to know that currency price behavior. I have 3 monitors on my trading station and used to display the 8 major currencies that I was looking for opportunity to trade then I got confused. So now I just focused on the 1 currency that I feel comfortable in trading.