Novice traders should take into account that the forex market is a place where you can both make money and suffer significant losses and even completely lose the deposit. It is not unusual for beginner forex traders to wind up completely wiping out an account through a series of losses or poor risk management. While this unfortunate scenario can be avoided with the right amount of trading knowledge and discipline, it would also help to have a battle plan to bounce back from blowing up your account.

If there is one feeling that currency traders universally abhor, it would probably be the emotion derived from watching a losing trade turn deeper and deeper against them. Unfortunately, losses are an inevitable part of forex trading and you cannot improve your trades or become a consistently profitable trader if you can’t accept that.