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

[mamah]

I had to face this situation several times when I practiced on a demo account and at that time I decided what I would do in real trading. When I face a situation in real trading, I immediately look at a chart and try to understand whether prices might be good or bad for me. If it is good I continue to wait for a better move, but if I understand that prices will go in the opposite direction I am constantly closing positions immediately and saving my trade from greater losses.

[bumbung]

Yes, but I think when I made an order after that when I felt that the order was wrong that time I immediately closed the trade before experiencing a big loss. I think that is a good factor but if you think you will stay more time to hit trading in profits then you will be looser bigger. so in that case close the trade immediately. and I think sometimes it happens that because of the mesothelioma of foreign exchange trading, we make the wrong exterior attitude ... so it's the best way to get dispersion death and fill the place .... because if we release it, it can be proven to be more clever and can act to release a lot of money .

[greek]

I think it's a very good decision to cut losses. because after all we always have to accept losses in every trade. Let us not be wrong when we have to take a position in silence and wait hoping the price will turn around. because that would be a bigger loss for me. and many margin calls caused by it in this forex trading. because it's the courage to make important decisions. and, that's the best thought to do, if the agreement is the opposite of our order ... we have to trade not against the trend because the risk is greater and this could be a danger to our account ... so, we have to do a better analysis before we enter the market to minimize risk and to maximize results !! goodbye guys !!

[moive]

there are some traders who like to close their trades if they know that they are doing wrong trades and their trades will be against them ... this is why I always do my homework before opening any trades ... like analyzing correctly, finding stop-losses my best and take profit targets etc. and I don't like to modify my trade after I run it .. I let it run till the end ..

[resham]

The first thing I do is close it. I don't mind losing about 5 pips more or less. It was a mistake so I closed it immediately. I am not suggesting we will spend more time trading and hope we can make money from it. Me I have more than 300 open positions and more than 200 pending orders in my six active accounts. So making one or two wrong positions doesn't make me feel bad at all. Besides after I close it, I can move and focus more on my strategy. And that loss made me able to get back and even get more at the end of the day.

[burqa]

As for me, I usually tighten my stop loss and I place my take profit on my trade entry. At least I am happy to get out of the market with 0 pips instead of losing 15 pips ... Because I was corrected by the market in the past, my experience played a big role for me ... The fruits are picked after years of patience giving water to plants .. and I think when I opened a bad trade I used a stop loss strategy because if you go in a loss it is automatically closed and if I go in a profit so the trade goes and I get profit from this trade no big deal

[badrita]

depending on the character of each trader and the condition of his equity ... what I mean is, maybe the trader wants to fight by chasing prices because he has big equity, but thera is the trader will close the order before the loss gets bigger because they don't have enough capital to survive and fight trade! and when I open the wrong entry position maybe because of carelessness, I immediately close it if I do it with a large lot size so that I don't lose my account or suffer a big loss but if with a small lot, I might let it run but with a very tight stop loss

[garlock]

If we know instantly that the place is wrong then we must immediately approach it to secure or prevent major failures that may occur because the wrong business and end up instantly will not cause more reduction and then we can re-evaluate the market or start a business on the right track right and My job is to be tested so you can practice. It is my duty to decide to place your profits and stop large losses at the beginning of the trade. by using it, even if the number of steps with posture, lost the agreement with him and I decided to place sl. This is a probability with a foreign currency. most people will accept it.

[tatang]

yes bro it can be done by traders because this is a market movement that is so fast and we can not imagine properly one day how the market will work so that position is difficult to find a safe way so we must try our best to find a good way at that time and in my opinion, we should close the trade with small losses and this is good thinking. I agree with you that it is better to lose small than large. actually we have to analyze it perfectly then start trading. we must focus and be very alert to trading times especially when we open any position. Forex is a fast market so losses can be very large in a moment.

[xiaomi]

Most new traders always want to start with the best and most complicated trading plan. The honest truth is that the simplest plan is usually the best plan to use. Although of course applying a simple plan to a complicated market is not an easy task at all! In fact that's why every month you can see new plans offered online to new traders. The sad thing is that these new traders go into the pit if they buy and practice this plan. So what is your trading plan? Do you have one?

Well if you are looking for a simple trading plan there are many plans available in the market. Here I want to share with you a simple plan that is quite practical but at the same time it will help to prevent all the "noise" that you get in the market.