clear supposed to do so sir .. because no one has the ability to trade so if we meet at a loss then we encourage you to stop loss, because with it we will not lose too muchQuote:
Originally Posted by dharampal
clear supposed to do so sir .. because no one has the ability to trade so if we meet at a loss then we encourage you to stop loss, because with it we will not lose too muchQuote:
Originally Posted by dharampal
Opening a new position in opposite direction letting opened the previous wrong position is not wise idea for me. i have lost all my account balance this way once. it can be more dangerous if price goes far from it. it will be itching you every time and you cannot keep concentrating on your analysis and trading. better you close the position immediately knowing that your in a wrong position and go for the next trade. you will be able to recover the losses.Quote:
Originally Posted by joget
If i opened a wrong position trade going to against my capital then close immediately in that position but if i have a handsome amount of capital then i will trade that pair for long term trade and wait for recover. it was already happened to me when i was newbie in Forex and i trade that time for long time and recover also. it depend on your strategy and situation.
better reproduce the experience in trading on the demo account first sir, instead of using a real account and can make us always losers, and this is not the right choice when we are always a LosserQuote:
Originally Posted by dharampal
wrong position is a bad thing which would cause a loss, so if we realize it is better to close it rather than letting a position that actually cause you'll keep getting floating minus.
if i had the wrong position, I will do my cut loss. it is a sure thing to anticipate a larger floating minus. I think, damages dozens of pips is not a problem, rather than having to lose hundreds of pips. because, of this indiscipline, bigger problems will arise.
The first task to do in such situation is to get rid of those mistakes by closing those trades at least loss if you see strength in that opposite move you can open the new trades in that direction and thus cover up those losses and make newer profits
If indeed we are confident our position is wrong or contrary to the trend, I usually do a cut loss or hedging. I do if the intended hedging by price point not far from the position of my loss. so there is no need to wait for too long to be able to open the hedging.
i expect that sometimes it happens that due to the pushing of Forex trading, we leave unlawful a unethical business so it is the champion way to respond that spreading loss and end that role because if we rest it outside, then it can be tested much venturous and can alter us to silty a lot of money
For newbie, I suggest first 6 month must be practice demo trading and learn stop loss, take profit, headging, and analyzing knowledge. When you learn these matter then you solve your any situation in forex very successfully. So learn first then earn.
I think its supposed to close that trade immidiately because its better to familiar it on another advised if we keep it than may be it create loss writer than our mean. I always approximate my trade when i realise that i neaten a wrongheaded judgment almost accounting because that transport my tentiona nd wage other possibleness
I totally agree with you - we should correct the mistake at earliest stage we realise it. When we knew the market is not going we expected there is no reason to wait as that will just be increasing the losses and would be unwise decision.Quote:
Originally Posted by boitali06
I ever put a accept profit and prevent loss at the rootage of trade. with bagitu, still tho' the toll moves against the business, the loss in giving with that we put sl. This is the risk of forex. we should be able to digest it.
some time all trader trade wrong position then the trader should use perfect stop loss area, then the trader make him danger free,
it is very difficult to new trader to enter into a better position most of the time it is in wrong entry and this can be cater only by the help of all those friends who know that what is this trading system and they are the better guides for trading
position of the entry is wrong?? I think if I did the entry position then the entry is through the analysis that results in a valid signal. If entry points I make loss then entry is the entry I was wrong and will soon be doing actions that a viable solution. i.e. cut loss or do the opposite direction. text entry or I'm doing locking in hopes the price will turn
I just cease my business when I believe it goes agaist my orientation, but after final in loss and when I see that it goes at that measure where I set knob loss then I became so untold foiled then, I anticipate it needs much participate and knowlege to cognise the content of trade..
If indeed we are wrong in taking the op should we wait whether the market moves against your position.See whether any time frame to move in the direction or not.If that is the direction we should all do not hesitate cutloss and plug in the direction op market.
When i face this type trouble on my trading on that time i try to recover my losses balance with hedge system. And i can easily do this on my trading. I think hedge is the best on that time for recover losses balance.
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. so i always close and when i get a enough profit from what i expected if anyone would want more than that will come over with loss
i always prefer to discipline, try to earn and evit the lose right after open a position when i know it going to lose anyway
I agree with you that it's better if we close our trade had been proven wrong in positioning and more waiting to get another chance in this trade because there will always be a good chance as long as we are prepared to wait in our tradeQuote:
Originally Posted by kalex76
indeed sir, I agree with your opinion that we are running in the forex business then we would expect to be able to control your emotions and be patient in analyzing the market so that we can benefit in the forex business.Quote:
Originally Posted by didikebenaran
Usually I feel so bad if my possition is wong and try to trap me. If I am not so sure with the possition, usually I do my bad desission, cut loss and closing my possition before I lost deeply. I am usially cut my possition before reaching 20 pips and let it gone. I try to do savely trading
i will just close it with accepting that lose because i do not want to lose my more capital by my mischievous mistake . if mistakenly you have opened it so we have no any other choose to do just accept it rather you lose any more capital
I've done it, but I keep opening my position and wait until the profit, it becomes like a scalper. :D I'm willing to do it because it happened to me at any open positions not being volatile market conditions.
I will be doing an evaluation on my analysis, because there must be something wrong when I think if we want to trade and also generate profit right then we need to know all these things one of which is a problem analysis.
The first task to do in such situation is to get rid of those mistakes by closing those trades at least loss if you see strength in that opposite move you can open the new trades in that direction and thus cover up those losses and make newer profits
me to jab bhi wrong position pr entry lagata hun to take loss pr 5 pips pr price ko settel kr deta hun zyada loss se to behtar hai ke banda kam loss bardasht kr le.
if we are a beginner then we should have a low diposisiyang first because then we will be able to learn to take jaeab and we also will get new lessons on our experienceQuote:
Originally Posted by kubi
If we have known that current condition was wrong in direction so it's better to close it as soon as possible to prevent bigger
losses but if we didn't quite sure if current condition was wrong in direction but we are not sure if the condition will be better too
so it's better to prepare risk management strategy.
I think with hope alone you will not achieve your target and you will face many losses , so the best solution for you is setting your stop loss in each trade and try to stay away from hedgingQuote:
Originally Posted by biyen
when i make wrong posisition in market, i will cut loss or make lock my floating loss with hedging strategy. i allways use strategy and i can recover my lose.
I have heard the best way to deal with a losing trade or a mistake, is to close it and accept the loss. It does sound horrible but it is better than having a massive loss and its a lot better than hoping.
Indeed, if we had one go so will not want to have to immediately take action. But there kosekuensi we must accept that the reduction in our deposit. So in any order we have to put a stop loss. so even if we are wrong then it will not be a big loss.Quote:
Originally Posted by joget
I agree with your opinion that we are running in the forex business then we would expect to be able to control your emotions and be patient in analyzing the market so that we can benefit in the forex business.
l always use 1 hours chart the prevent from the wrong signals.when we will use small time frame like 5 m or 15 m we may see so many wrong signals.as long as a trader will always place his sl and tp then there is nothing to worry.but if you are very sure that it is totally wrong position then the best way is to quit from it very fast and place another order to opposite direction.
I simply close it right there and then and if it is after some time I have come to know then I look at the charts and re analyze the trade and if chances are there for reversals then I keep it running otherwise I close it in loss.
we should be able to see whether the market goes up or we tutrun gunkan stop loss and take profit quickly if the market is good we go bad trade if we close with good analysis we can read the direction of tradeQuote:
Originally Posted by pbelim
as i thought we open wrong entry due to our impatience, so if we did that mistake so we should see our loss if we have just spread's loss then i'll reccomend it to accept it but if it is more than we can accept and we are sure that market will run at opposite side then we have an option to hedge (open an entry to opposite side of the entry that you have already opened) it, so when you gain your break even you can close it or also can gain profit from 2nd time opened entry.