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

[pmomaw]

Mybe it can be done butt it is the reason we can not analyze the market with concentration and out the orders on the wrong sides then it will be the so hard for us and we can not do any thing to got profite butt we can saved ours accounts from the margins calls and we should be closed ours entry on the smaller lossing !!!

[yudijoni]

some common risk management applied trader is:
1. averaging
Taking the same position after a few points wrong position.
2. Locking / Hedging
Taking the opposite position if something goes wrong position.
3. Double Cover
Taking the position of 2-fold from the first position.
4. cut Lost
Traders took the position x 1 lot sell EUR / USD at 1.4550 level, but the price rose to 1.4600, and trader x to cut lost to minimize losses by analytical prices will continue to rise.
5. Cut and Reverse
6. Cut and Double Lot

[xomes]

i think that sometimes it happens that due to the pressure of forex trading,always put a take profit and stop loss at the beginning of trade...to make sure if profit your Tp will closed..and if loss of your prediction you not MC..

We need more learn, I think for learning 1 year is enough but you require a lot of time to make experiments of your skills and for few years you still remain in the learning phase when you are trading with various strategies and tools. So 2 to 3 years period gives you good experience.

[subrahmanyam]

yes brother it is right to think if we enter in wrong position in Forex trading we close the lot to avoid the huge loss it is better to close the lot we don't know the feature market exactly,so we will hold in patience

[lowbatt]

I think that when the trader open wrong position by mistake they should quickly close the trade as it can go more negative in future so you should quickly get rid of that. The wrong positions usually make trader to loss all their money and feel dishearted.

[bhagawanta]

If my equity is strong enough to handle the floating minus i will let my positions,and use martiangle strategy to fight.. but if my equity is weak i will closed my positions,because it will dangerous to my account,it will be a great loss or maybe causing a margin call...the point is our money management!!good luck!

[alecander]

all traders may create wrong analysis therefore they're going to open position in wrong direction, if we've realized that we both opened position
in wrong call, we are able to select risk management strategy to firmly limit losses. if youre still confident if movement of price may move
as your analysis few a lot of pips, then you'll be able to ignore it running and shut it in the event the losses is lower. even so you should have limit to firmly shut it,
in addition to you can make use of hedging to firmly lock position and unlock it later when there's higher condition.

[sundorali0000]

Wrong position of entry is not good for business,when i will know it is wrong,i will try come back my aria,its a great problem for maintenance trade business,so i avoid wrong position of entry.

[manav14386]

jab mujhe lagta hai mere se wrong entry hogaye mai tou wapis wait karta hoon uss trade ko ussi position par aane ka with stop loss..ye pata hona mushkil hota hai ki aapne jo trade open ki hai wo thik hai ya nahi..

[pooshpa]

main bhi yahi kerta ho kio k kafi time ap is main ghalt trade kerty ho then ap ko is main stress nahi hona chahea kio k forex main asa hota hy but ap ko is time stop loss ko use kerna chahe akio k ager ap ko los hoa bhi then ap ko is main kam loss ho ga