 A Real Madrid youth graduate, Madrid-born Losada made his first-team debut on 9 September 1984 in a 1–1 away draw against Sporting de Gijón, but would not have a successful period with the capital side.He did, however, score eight La Liga goals in just 16 appearances in the 1989–90 season as Real were crowned champions, adding the club's goal number 400 in the European Cup in a 2–2 draw at FC Tirol Innsbruck on 7 November 1990.In 1987–88, Losada served a loan stint with RCD Español and netted eight top division goals during the campaign, also helping the team reach the UEFA Cup final