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

[jony]

best option is during this condition use stop loss and take profit option in forex for away from loss in forex.people are make good strategies for this situtation.and but never face this type of condition.

[anton]

If i do enter into the market in a wrong position then i will close my trade immediately then i will try to understand that what is happening in the market if i see market is going reverse then i will open a trade in that trend.

I am novice trader, I still like to feel free to close the trade even though it was wrong, and I usually do hedging improve their circumstances, but apparently it also does not provide a great benefit, because hedging requires a long time to fix things like this.

[dragon]

It's no need to wait if the open position is wrong, but I must take a look on condition of market. If it's still possible to set close position
and switch to another direction to follow current trending so it's better to follow the trend but if the trend is almost over so it's better
to close and wait better condition to open position again.

[digger_jim]

Close it. Even if it's loosing, it is still better to close it rather than letting your loss grow. In time, you might be able to reverse position and regain your losses in no time. But in the beginning, close it and stop trading, review your mistake immediately is a better choice of action.

[anton]

i don't place a trade if i am not sure about it and beside when i place a trade and i discovered it a wrong position, i don't close it i allow my stop loss to take me out

better that way, I strongly agree with your suggestion, I will not go and do the order position if I did not get a good signal from the market, because we must realize that there are in the foreign exchange risk is very large, very little we make mistakes it will have an impact on our account.

[omofx]

i don't place a trade if i am not sure about it and beside when i place a trade and i discovered it a wrong position, i don't close it i allow my stop loss to take me out

[hitesh]

If we are wrong in the transaction we have to get out of the market. we look again at whether there are still opportunities that we have further analysis. so that we can get a price we want and we anlisa for immediate re-entry

[rahulsagar]

If any of us get so close it straight up from the sustained, because although there is little loss is a loss, that if the let alone make us lose some of the capital that we keep,if we need to stop until we are completely convinced by the analysis

[aarti]

han ye to mugh se kai dafa hota ha main khud bhi akser aesi entry kar beteta houn or bad main mugh ko pata chalta ha k main ne ye entery kafi ghalat time par ki ha to us k bad main wait he karta houn takey condition mere haq main ho

[yakult]

If I am not going to direct my cap. I would do a re-analysis and estimate the price goes up to certain limits and will do the averaging. I used to do the averaging, because I believe the resilience of my capital. Unless resistance is below 1000 pips better close immediately.