Does steak loses it taste more its cooked?

Yes; you should never overcook steak.

Steak should preferably be cooked on a high heat and turned only once, cooking until it reaches the desired stage, for example, rare, medium, well done, and stages in between.

Test it by pressing with a finger after you've turned it: rare steak will feel soft, medium will be slightly firm but still springy, and well done steak will be firm to the touch.

Stop cooking and remove steak from the pan just before it reaches the exact stage you want it, because it needs to rest for the best flavour and texture to develop; also it will still continue to cook for a short while.

Overcooked steak, that is steak that has been cooked for too long, will be tough and lacking in flavour.

Always pre-heat your pan or griddle for cooking steak: turn the hotplate or gas to a medium-high heat and leave for a few minutes. The pan will reach a high heat, and not become too hot after you begin cooking.