yes it is very much needed to calculate the amount of loss. it is valuable to get a trader to study and analyze these markets and analyze the risks involved before they actually do their trading and at the same time build all the steps to minimize their risks and reduce their losses and work with money management effectively . and forex is a good business if you do not have expertise in trading then you will fail in forex trading and you must need skills in forex trading You will need all kinds of skills in trading such as technical analysis and fundamental analysis and I think all class analysis is most important for your trade