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

[norix]

if it happened to me, then I would immediately close the transaction and be OP again with the correct position. in this business we must not suppose, do not rely on instinct, but must be based on the facts and realities that exist. markets are unpredictable, uncontrollable, but we can follow to make a profit.

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

[iwan]

if it happened to me, then I would immediately close the transaction and be OP again with the correct position. in this business we must not suppose, do not rely on instinct, but must be based on the facts and realities that exist. markets are unpredictable, uncontrollable, but we can follow to make a profit.

[zahidrock]

Its better to close that trade immidiately because its better to close it on other wise if we keep it than may be it bring loss more than our expectation. I always close my trade when i realize that i make a wrong decision about entry because that release my tentiona nd provide another chance to open fresh trade.

Yes you are right. If we got any wrong point for trading then we need to close it immediately. if we can't do this then we can loss more balance on that time.

[anitagala124]

i just open hedging system or cut loss the order with immediately, and i do not want to hold floating minus too big, and we know that wit using edging then i have the chance to convert the loses with winning or profit, but need ability for it

[nurhidayah]

This stage is not only difficult for novice traders but some times experienced traders also execute trades in wrong direction and get involved in troubles. I did the same while trading gold and now i am dealing with hedging for more than 4 trading days. I think best option is the close the trade manually at the lowest possible losses.

close of trading manual that terlelak against losses that may be low but we are responsible, although an effect on our trading circumstances, to that we also have to understand these stages so as not to fall again against losses worse

[yogesh]

Once realised the mistake i think the first thing we should do is correct the mistake and so at times when we know that the trade we opened was unintended or unwise we should correct the mistake by closing it.

[joko]

All traders could make wrong analysis so they will open position in wrong direction, if we have realized that we opened position
in wrong decision, we can choose risk management strategy to limit losses. If you're still confident if movement of price could move
as your analysis few more pips, then you can let it running and close it when the losses is lower. But you must have limit to close it,
and also you can use hedging to lock position and unlock it later when there is better condition.

[sayem]

Jab wrong position pe trade ger jata hay tab bohot mushkil ka samna karna parta hay. aksaar hum galti se aaysa position pe trade de dete hay jiski hume knowledge or analyses nahi kia. tab hum trade ko close kar dete hay or agaar thora nuksaan sath sath dikhai parta hay tab thora integaar kartehay.

[newentry]

i just open hedging system or cut loss the order with immediately, and i do not want to hold floating minus too big, and we know that wit using edging then i have the chance to convert the loses with winning or profit, but need ability for it

[seri]

when I do wrong open position, I often immediately close the position, than I have suffered greater losses, unless it was sideway, I usually wait a while, until the position is a profit, although very small, just 1 pips for example, then I close

That's right. It's better cut and switch when you knew that your open position was wrong, if that is possible you should
close it immediately so you won't lose more dollars. But if that is possible, you must know the limit too. If the losses still
could be reduced because the movement could be better, then it's okay to wait a second. It's all depending on situation too.