I realise that there will be ups and downs with trading, but when I do have a loss, I get really upset. What tools do you guys use to get past that feeling?
Run a strategy for a long time either with a tiny live account or in a demo account so that you can be sure that most months will be profitable and that no months are big losers.
Use stop-losses to make sure your risk per trade is very small.
Trade from the daily charts.
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Losses are a natural part of Forex. Even top pro traders suffer losses regularly. It’s more important to follow Tommor 's advice first of all - to minimise the monetary loss.
Let the losing trade go, it’s history (presuming it was a good trade) and irrelevant.
Hence, it’s more important to ensure that your NEXT trade follows your strategy exactly, so that it is also a good trade. And so on for every trade.
If you can say that every trade you make is a good trade, that’s all you need to pat yourself on your back. It was a good trade. Repeat that. It was a good trade.
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Real Trading is no gambling, so you have to realize this and ask how not to gamble with your money in Forex. When you figure this out, you won’t be scared because you know that in the end of each week or month, your profit/loss ration would be a positive one. So get that working strategy that has higher win ratio and stop being afraid.
Work at trying to improve risk reward ratios of your trades as most people are more attached to the balance in the account than the win/loss % of their trades.