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

[dareking]

Bhai jab ye baat jaan liya hai ki trade jo open kiya hai wo galat hai to usko jaldi se jaldi kam loss par hi band karne ka fayda hai, bahut se trader hote hai jo 0 profits par aane ke wait karte hai lekin aisa hota nahi hai waha se bada loss hone lag jata hai, isliye aisi trade ko hamesha hi close kare jaldi bhai.

[smsfx]

We also present our expectation of loss, if you tend to celebrate rather than substitute wise results in real time, ie in high trading that is exploding in trading. When I break away and the last trade provides an opportunity to open up another topic and build an understanding of always being closed, as a result of a wrong call or peeve my trades. This is the fact that we traders sometimes lose patience because too much hum pressure boht jaldi mai kaam krty its just to get the magar's profit human nature do not have to worry if you choose wrong choice and you acknowledge your mistake then you can not wait until longer just close the trade and stop your loss by closing it and next time keep it satisfied and do not lose hope go for the right thing and be positive in any step

[fakhrunf]

A trader must be cool during trading and do not put pressure to avoid wrong action. He must also have the courage to close the wrong position (mistakes happen) as soon as possible because if he waits; it will lose more than in the first place I will close it at once because I prefer to lose the value of the spread rather than lose a large sum of money because the entry is wrong, because the spread can be recovered easily if we make a winning position after that rather than lose the position for long waiting time it's to get the entry point to close it

[iqrayousaf]

its really difficult when we know that we have to do a mistake or we opened the wrong position or entry ,,,, ,,so in this condition we have to come across this type of solutions many times and all the we have taken the right decisions,,, therefore we have to manage all time all things so there will be no chances of mistalke while we trading ,,, we have to keep information already before happning these conditions in trading

[gennep]

when I open the wrong trade then I will wait until when I get profit.this is my strategy I open the trade with a small lot so if I open the wrong trade I can withstand the great loss and can hold the trade for a long time. time I'm sure it can be found, if you ask me, since the beginning of time, we have tried to solve this problem through the acquisition of stop loss on our purchases and sales, I think this is a big advantage when you ask me, especially because it seems limited at our loss.

[goyang]

I think it usually happens that we open up commercialism in the wrong place in the foreign exchange. So here's the best solution for this is the development due to injury and closed positions. Because if we tend to open up and often create a more serious and that the United States will lose a lot of money, you can create it .. If I open the opposite position with the market movement, then I will immediately think to close my position. I certainly do not want to lose too much. Normally I always use stop loss for my trading, so even though I am the opposite position, I can still minimize the risk of loss I receive. it is important to minimize the losses for individual traders.

[genefx]

I imagine that again and again it happens because of the power of forex trading and we can open the wrong position so it is the most ideal route to know that evenly the losses and close the position on the grounds that assuming we remain open it can be proved more dangerous and can make us release a lot of money. I always try to discipline. I always put take profit and stop loss in early trading. With that, despite the fact that values move against positions, the losses corresponding to that we tend to place the Shining Path. this is often the danger of forex. we should always be ready to handle it .......

[anaku]

Yes most of what is done by me when I do the market trading go opposite then take a stop loss 10 $ and leave the trade as gone. I do not know the reason why the market goes against me when I trade forex. I think you should immediately close your trade and bear or the second option is you are hedging by opening a trade in another direction. For example if you have opened a buy order, then open sell order. This will restore the loss of your incorrect position opening to some extent.

[gedefx29]

in the past when I just start trading, I always hold a losing position because I'm to scare to losing my money. but that is a bad idea,the loss going bigger and causing margin call. after that I realized maintain a wrong position early is necessary. once we know the position is wrong, we better close the order before it going worse and give us big losses.

[youcef54]

There are two things that you can do. Either close the order immediately or enter another order to lock the previous order like hedging. Although second one is quite tough to unlock the situation...