What will you do when you know that just opened the wrong position or entry?

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Originally Posted by malik

This stage is not only difficult for novice traders but some times experienced traders also execute trades in wrong direction and get involved in troubles. I did the same while trading gold and now i am dealing with hedging for more than 4 trading days. I think best option is the close the trade manually at the lowest possible losses.

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close of trading manual that terlelak against losses that may be low but we are responsible, although an effect on our trading circumstances, to that we also have to understand these stages so as not to fall again against losses worse

i just open hedging system or cut loss the order with immediately, and i do not want to hold floating minus too big, and we know that wit using edging then i have the chance to convert the loses with winning or profit, but need ability for it

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Originally Posted by kashifrehman

Its better to close that trade immidiately because its better to close it on other wise if we keep it than may be it bring loss more than our expectation. I always close my trade when i realize that i make a wrong decision about entry because that release my tentiona nd provide another chance to open fresh trade.

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Yes you are right. If we got any wrong point for trading then we need to close it immediately. if we can't do this then we can loss more balance on that time.

if it happened to me, then I would immediately close the transaction and be OP again with the correct position. in this business we must not suppose, do not rely on instinct, but must be based on the facts and realities that exist. markets are unpredictable, uncontrollable, but we can follow to make a profit.

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Originally Posted by iwan

if it happened to me, then I would immediately close the transaction and be OP again with the correct position. in this business we must not suppose, do not rely on instinct, but must be based on the facts and realities that exist. markets are unpredictable, uncontrollable, but we can follow to make a profit.

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If any of us get so close it straight up from the sustained, because although there is little loss is a loss, that if the let alone make us lose some of the capital that we keep,if we need to stop until we are completely convinced by the analysis

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Originally Posted by joko

All traders could make wrong analysis so they will open position in wrong direction, if we have realized that we opened position
in wrong decision, we can choose risk management strategy to limit losses. If you're still confident if movement of price could move
as your analysis few more pips, then you can let it running and close it when the losses is lower. But you must have limit to close it,
and also you can use hedging to lock position and unlock it later when there is better condition.

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each trader can indeed make a mistake in trading. but we should not feel afraid to make mistakes. because of the error, we can make improvements in analyzing and strategizing. so that we can do can make a better trade for the next.

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Originally Posted by raka999

I always tried to discipline. I always put a take profit and stop loss at the beginning of trade. with bagitu, even though the price moves against the position, the loss in accordance with that we put sl. This is the risk of forex. we should be able to accept it.

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That's right I am fully with you , this is my way of the money management and I stick on it, I always set the take profit and the stop loss after I open a position and wait what will happen.

I always tried to discipline. I always put a take profit and stop loss at the beginning of trade. with bagitu, even though the price moves against the position, the loss in accordance with that we put sl. This is the risk of forex. we should be able to accept it.

This stage is not only difficult for novice traders but some times experienced traders also execute trades in wrong direction and get involved in troubles. I did the same while trading gold and now i am dealing with hedging for more than 4 trading days. I think best option is the close the trade manually at the lowest possible losses.

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Originally Posted by babu

This stage is not only difficult for novice traders but some times experienced traders also execute trades in wrong direction and get involved in troubles. I did the same while trading gold and now i am dealing with hedging for more than 4 trading days. I think best option is the close the trade manually at the lowest possible losses.

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when we make a mistake in making an entry, then we can take advantage of the use of hedging strategies to help us. so that we can reduce the loss or even make a profit. but if you do not want complicated, then it could use a cut loss to get out of the market. so it does not make the loss becomes greater.