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

[sind]

There are occations where a trade position is opened due to error. Generally i look to exit the earliest opportune moment which is also the best solution. Sometimes a hedge trade is entered to compensate the adverse movements and recover the losses.

[mejba01]

I think where should you entry to the market must be fixed according to the market trend. use moving average indicators to get more reliable result about the right entry point.

[hend]

I think, however, as traders we must always be ready with all the possibilities, including the possibility when we have suffered a loss. Therefore, when did we realize that we have the wrong or contrary to market movements, we have to take the decision to cut losses, so it would not make a very big loss for us. and it will also provide an opportunity for us to trade with a better future.

[zesun12]

Better to shut that company instantly because its better to change it to the other feeling, if we keep it than you can use decrease over our objectives. Always near to my company, when you understand that the incorrect option, because as releasing my tension and provides the likelihood to begin the company.

[vallen]

difficult for the newbie trader like me to make an entry in the right position. this is usually due to impatience in the trade. in fact rarely because of doubt and nervousness so quickly closed position. so fast that the funds in the trading account is reduced.

when I found out I had just opened the wrong position entry then I immediately take a look to the higher timeframe and the possibility margin that I have to cover it? if sufficient, then I let the floating minus, but if not then I immediately opened a new position in the opposite direction to the previous position.

How about you?

I will do a re-analysis so that I could know if the price will be turned away or not
if we've got that price then we can use a final decision by closing and opening a new position to be in one direction to the movement of the actual market

[Sumit]

if open the wrong trade at any point then i will open the another trade at the same point which caeed as hedging and wilkl wait for the proper time to close one of the trade and will carry the other trade for profit

[ObaFX]

whenever you feel you have opened the wrong trade then first try to reevaluate your chart to be sure your position is wrong then close it immediately after confirmation that it is indeed wrong to place that trade at that time.

[shaonhossen]

Actually when i know that then i am closing the position after seeing the market position. Then i decided what should i do.

[haney]

do not let it run too long, we need to make a decision, right decision in a short time before too late, we can close the order or we can set hedging, this is the best thing we can do then we just accept floating minus too big, and i guess, hedging is good too, we can take the same risk with stop loss, cut loss but we still have chances to fix it
and so, we have to think about it with be careful, before make order and make sure that we are on the right track

[junaid1]

ye bohat hi crucial stage hoti hai aur kuch samjh nahi a rahi hoti k kya kia jay isi liye main mostly hedg start ker seta hu aur phir loss wai trade close ker deta hu ta k loss kam se kam ho aur profit k chances bhi ho ...