Best steps you take when you are in loss situation

It is necessary that before trading trader should plan and follow some good strategies and it will help us to minimize the loss and will be able to maximize the profit. Trader should also use take profit and stop loss it helps the trader to perform better trading.

 

Just because you lose on a trade doesn't mean that a mistake was made. You can't win on all of your trades. A certain percentage of them are going to be losers. A losing trade that is well thought out and executed according to plan is still a good trade even if it is a loser.

 

I've shared this before, from an interview with Mark Douglas:

Trading a technical methodology or a technical pattern does not have anything to do with being right or wrong. It’s just an odds game. You’ve got to be able to take every single trade because you don’t know the sequence of wins and losses. You’ve got to be able to identify what your risk is and that’s simply ‘How much am I willing to spend to find out if other traders are going to come into this market and bid it higher than my price or offer lower than my price if I sold?’

The solution is to change your mind, to change the way you think. [You’ve] got to eliminate the potential to think that the market’s going to disappoint you. And the way [you] eliminate the potential is by understanding that trading is not about being right or wrong. It’s a probability game.

There are stages of development such as learning how to think in probabilities so the market doesn’t have the potential to cause us to feel emotional pain.

When you put on a trade and it doesn’t work, all it really means is that some of the traders didn’t come into the market that had the same belief that you had, or the same conviction about this market doing whatever it is you thought it was going to do. You have to learn to walk away.

We can’t predict collective human behavior. The methodologies that we have access to, these mathematical formulas, do that for us. But you have to understand that there’s no possible way that these mathematical formulas can predict the outcome of these patterns on a trade by trade basis, only on a series of trades.

So when I get a signal from my methodology, at the most fundamental level what this is telling me is that the odds are in my favor that somebody is going to come into the market (this is what the pattern means) and bid it higher than here if I bought or offer it lower than here if I sold. That’s all that it’s saying. Now they’re either gonna come or they’re not, and so as a result I don’t look at this as being a ‘right’ or a ‘wrong’; I look at this as ‘How much distance am I going to give the market to move away from my entry point to tell me that they’re either going to come or they’re not, and any further is not worth the cost of finding out.’

That last line is the best explanation of where and why to place a stop loss that I've ever heard.

 

You've pinpointed the OP's problem. Aside from being unusually thick (how hard is it to grasp Cut Losses Short?), he seems to suffer from the delusion that he can find some perfect exit strategy which will turn all potential losses into winners or at least breakevens. Moreover he actually expects someone here to just hand him such a gold mine.