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

[budado]

First thing I do is close it. I don't mind losing some 5 pips more or less. Its a mistake so I close it immediately. I don't recommend that we going to spend more time trading and hoping that we can make money out of it. Me I have more than 300 open position and more than 200 pending orders in my six active accounts. So making one or two mistake position does not make me feel bad at all. Beside once I close it I can move on and focus more on my strategies. And those loss pips I can earn it back and even earn more in the end of the day.

[casiotab]

I'll keep it up to come back benefit. although many investors do not accept this type of factor, but keep in mind if it is then you come across a scenario like this then create sure you exchange your no cost account.

[atjashim]

Its very easy that i will first examine the industry position and if the industry is in my benefit then i will proceed otherwise i will quit at that time only. If we do so then we will treat from big reduction. Because bad industry access is very dangerous factor.

[nsr.sultana]

I consent with what you published. When i start a incorrect place, the best to do to prevent dropping my money is by ending the place. We need to prevent this type of scenario by making sure we analyze the market effectively.

[manav14386]

jab hume pata chale ki humne wrong entry open kardi hai tou hum kuch nahi kar sakte jab tak hamara woi point na aajaye jis rate par humne entry open ki hai agar jada lot kare hai tou hume koshish karni chahiye jaldi se jaldi usse close karde..

[zaine]

i think when i open the bad trade the i use the strategy of stop loss because if you gone in loss then it is automatically close and if i gone in profit so the trade is carry on and i get the profit from this trade it is not the big problem

[naziakhan]

Bhai pahli baat to itni jaldi pata nahi chalta hai, ki humari trade sahi hai ya fir galat, hum apni tarah se apni analysis ke anusar sahi trade open karte hai, agar market humare against jane lag jaye, tab hume trade ko loss mein band kar dena chahiye, aur fir us waqt trade nahi karna chahiye.

han bhai ap na bilkul thk kaha hai.kuch traders sochtay hain k hamain loss ma trade open nh karni or esi wajha sa wo buhat hi zaida loss kar daitay hain .agar ap ko lagay k ap ki analysis galat hai tu ap ko trade ko loss ma hi close kar dana cahiyay.

[FREEDOM]

If i think i just make a wrong entry then i will close it immediately and rather to spend 3 pips for the spread cost. Then make re-analysis and waiting for another chance for entry. I think patient is very importance for waiting the entry momentum.

[dareking]

Bhai pahli baat to itni jaldi pata nahi chalta hai, ki humari trade sahi hai ya fir galat, hum apni tarah se apni analysis ke anusar sahi trade open karte hai, agar market humare against jane lag jaye, tab hume trade ko loss mein band kar dena chahiye, aur fir us waqt trade nahi karna chahiye.

[Ryad]

As for me, I usually tighten my stop loss and I place my take profit at my entry of the trade.. At least I am happy to get out of the market with 0 pip rather than losing 15 pips.. As I was corrected by the market in the past, my experience plays a great role for me.. A fruit is plucked after years of patience giving the plant water..