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

[gold maniak]

i think you will be in tention but i will be relax an di think forex trsing is very very risky and you should not take tention in forex trading and you should be relax in forex trading to earn more and more from forex trading business to become aduccessful trader in forex trading What I do when I enter a wrong trade is, I do not close the opened trade instead I go for a opposite trade with a doubled size lot, when I confirmed my self that my initial order is wrong if not then I wait for the market to return because market will revert back to the order, else the second option but never go for the closing of trade in hurry.

[baalan]

That i decide to put your bring gain and stop great loss at the beginning with commerce. by using baggie, even if the amount steps about the posture, losing as stated by that him and i decide to put sl. i actually realise that i actually generate a improper final decision pertaining to entrance for the reason that this put out this attentional end give a further an opportunity to amenable unique commerce.

[satiawati]

After i determined, then My spouse and i right away to raised time schedule along with prospects for perimeter i consider it the wrong handle open up situation admittance My spouse and i had been just? If, after that, floating however or even i want to subtract after that right away new situation open up within the contrary route for the earlier situation.

[maksibanu]

That will be better for our account when we know if we need to cut our loss. Some traders just stick open their false trade and hoping the price movement will just come back to their position's direction. That will never be wise if just based on hope since that high risk to harm even destroy our account's life. Better for us to limit our loss by cut it once our trade can be analized as fail trade.

[rolens]

yes, I agree with your opinion. it better immediately close the open position if you know wrong entry. to avoid worse loss, and also in order to open a fresh trade. This is especially useful if there is a limit to open a trade position. for example, maximum is 3 open position trade. so, by closing that wrong entry trade is very useful to be able to immediately start trading again.

[rolens]

If I was in that position I would prolong my trade by opening the opposite position right away ... so to lock in my loss that it should not increase and earn on either side. I would get another chance of analyzing the market and be careful next time when I close my in profit position. I would try to close my profitable trade when market was about to turn and wait for the loss to be covered when market makes a dip and then buy it again. When the first deficit was covered I would close both my positions without losing a single buck.

[koreanfx]

first is that if my capital equity is strong then i will wait for few time but it works on only opposition way then i make a transaction of opposite site and earn profit for that entry. some time my trading goes to my direction on that time i might be earn good profit from opposite direction. all time i use a lot of analysis before open any trade and do not think after opening any position.but if in case mistakenly or unfortunately i open any trade then i must correction myself by closing that trade without taking any long time because i know a single trade is good enough for me to blowup my account or for a great loss.

[nidji]

If we have opened a trade then we must wait patiently for the trade to conclude automatically by either hitting stop loss or take profit.We must trade only after complete market analysis and never take high risk.We must never get panic after opening trade. I think that sometimes it happens that due to the pressure of forex trading, we will open a wrong situation ...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.....

[tresemey]

when i open wrong position order so i see the market value of that tarde and see market chart frame and and last situation and future analysis so if i think that if i wait and i can easily close this order so i wait otherwise i closed other with less loss i hope market moving will change as my estimate but if it do not work i will stop my trading even it take loss because if continue i will take so many loss,so becarefull for open position small mistake make us can take so many loss.

[berit]

I usually attempted to control. I usually place a new carry income and burning in the beginning involving industry. using bagitu, although the purchase price actions resistant to the position, losing as per that we place sl. Here is the chance involving foreign exchange. we all can agree to the item. sabse aacha tarika hai sahi analyses karke is tarah ke galtiyon se bachen aur har baar double check karen ki aap sahi jagah trade to laga rahe hain na agar aapko lagta hai ki aap galat hai to aap turant saudhare agar galat trade lag bhi gaya hai to aap aisa karen ki thoda wait karen agar lagta hai ki nahi hoga movement then close kar den trade.