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

[Jack_lee]

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..

[dareking]

i think that sometimes it happens that due to the pressure of forex trading, we will open a wrong position ...so it is the best way to accept that spread loss and close that position....because if we keep it open, then it can be proved more dangerous and can make us to loose alot of money.....

yes sometimes happen with me, jab main kafi jayda pressure mein hota hoon, to main aksar wrong position open kar deta hoon, aur ye mera pressure tabhi aata hai, jab main ek sath 2 strategy use karta hoon, ek mein signal agar buy hai, to dusre mein sell hota hai.

[bdsazzad]

After taking entry if i see that i have taken a wrong decision then at firstly i will close the trade immediately with small loss because i think it is the better option for me and i have done also this type of work.

[runu]

i reckon that sometimes it happens that due to the pressure of forex trading, we testament unobstructed a deplorable opinion ...so it is the primo way to abide that circulate diminution and fill that business....because if we sustenance it open, then it can be evidenced many severe and can excrete us to coarse alot of money............

[ndunk81]

My first step when it was knowing that I chose the wrong position is immediately closed position and the open position again in the direction of the market ..
Usually it's often my experience when there is a trend of the market is concerned, so as to make chart changed dramatically. But in normal conditions, I usually just wait for the price to change back in the direction that I want ..

[ahmedelsanhoury]

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.

[sracer86]

I had to face this situation for several times when I was practicing in demo account and that time I made my mind what I will do in real trading.When I face the situation in real trading,I instantly see the chart and try to understand whether the price may become good or bad for me.If good I keep waiting for better movement,but if I understand that the price is going to my opposite direction continuously I instantly close the position and save my trade from greater loss.

[hend]

when in my trade, I opened the wrong position, it will not make me panic. because in my trade, I always use SL to limit my losses. because I realized it was definitely time for us to be wrong in predicting price movements, so it's going to make us lose. Therefore I am sure that might limit the losses I find, so I do not lose too much, and can survive well in forex trading.

[wulandari]

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.

thats a good practice, if you keep dicipline like that in your trade, then profit will follow you, i believe about that, but if you againts your rules, then someday you will get margin call, sooner or later

[xoazhar1]

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.