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

[alibaba]

This is because in forex trading, we should not use any wrong analysis or allow a losing trade to continue... As soon as i discover that there is a mistake in the trade that i opened, i quickly close such a trade.

[sally18]

if you i would that i would opened the trade in the wrong then i will try to exit the trade as early as possible with minimum loss and will see to it that before entering another i will confirm my entry twice and then onlly enter the trade.

[fazalraheem]

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.

[redforex]

Brother it can be closed down immediately so you can do that and cancel your trade or you can be just careful from the beginning next time.You can also try to have a plan and somehow make profits or break even.

[ali.khan]

Obviously this really is also occurred if you ask me in the beginning many times i tried to resolve this issue by getting a stop loss to my trade i believe if features a good gain if you ask me as it put a limit to my loss.

[molla]

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.....

[shaikhjundi]

difficult for the newbie trader like me to make an entry in the right position. this is usually due to impatience in the trade. in fact rarely because of doubt and nervousness so quickly closed position. so fast that the funds in the trading account is reduced.

when I found out I had just opened the wrong position entry then I immediately take a look to the higher timeframe and the possibility margin that I have to cover it? if sufficient, then I let the floating minus, but if not then I immediately opened a new position in the opposite direction to the previous position.

How about you?

jab main dekhta houn k main ne ek wrong position open kar di ha to main us k positive honey ka intezar karta houn par jab who positive nahi hoti to main us ko close nhi karta houn open rehney deta houn or long term trade main daal deta houn bas

[aries32]

Bahi aasee situation may mayre kooshesh yahee hoteee hai kay zeydaa dayre may apnee position ipen naa rakhoo agar market zeyda against hoo bee jaay too may stop loss kay zaryi market saay out hoo jaata hoon. may kahoon gaa kay yeah achaa option hotaa hai traders kay pass. stop loss kay zaryi hum baraay loss saay baach saktay hain. or apnay loss koo recover bee kar saktay haiin.

[muna1982]

As soon as i discover that there is a mistake in the trade that i opened, i quickly close such a trade. This is because in forex trading, we should not use any wrong analysis or allow a losing trade to continue

yes his is the right decision that when you realized that the trade is wrong then close it with some loss and open the right one. the forex move a big some time so it may give the big loss too. so the earlies is the better that to wait with loss. keeping the position in open will make our floating loss very big that is not good any more.

[sunila]

forex mai yai seekhna har time kafi mushkil hai is leyay sab he is mai stop loss use karty ahin aur mere kahyal sai sl kafi acha hai agar hamara money loss mai ja raha hai tou hum yai use kar k apna baqie ballance save kar sakty hain...