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

[Zaheer]

some time hum market ke ups and downs se bohat pressureize ho jate hain or ghalt trad laga dete hain is position main some time traders ko kafi los hota ha aisi situation main aga ap ko lage ke ap ne jo trade ghalt lagai ha wo profif main a sakti ha ya nai agr nai asakti to ap us ko hedge kar din or monasib point par stop loss or take profit laga din is se ap kafi cover kar sakte or agar ais nai kar sakte to close kar dain.

[raja jee]

I think you should close your trade immediately and bear the or the second option is that you do hedging by opening a trade in the other direction. For example if you have opened a buy order, then open a sell order. This will restore your loss of wrong position opened up to some extent.

[Ubaid]

Yes most its done by me when i do trade market goes opposite side then take a stop loss of 10$ and left the trade as its going. I dont know the reason why market goes opposite when i trade in forex trading.

[muna1982]

some time this type of incident happen that after opening a trade we feel that it is a wrong decision. in such time i just close the trade if it is a big one in some pips loss. but it is a small one then wait for some time and close it in some pips profit or if goes in loss then keep it as it is. some time i open and opposite position it i think that the price will back in this level very soon.

[win]

if i mistakenly open the wrong position i will open another trade in the opposite direction and this style is called hedging.And after getting good profit you can close one of your opened trade

[irilan]

in my experience as newbie, if i face wrong position in trading i always try to open new position that different with the first one positions. in this case i am using hedging strategy to minimalist my lost. and i will wait until the end of trend to close one postions in trading.

[nvsrao]

It happens some time. I wait for some time to return the market then I will Close that entry with small loss.

[India Bangsat]

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

It is true, I believe he went my orientation, but after the end of the loss, I see that it runs on the size where I set the knob losses. And I was not counted as thwarted as well. so, I'm anticipating it. Greetings profit.

[damado]

if i have to open the trade in the market and after opening the trade, the market is going against me then the better thing for me is that i should then wait for the good opportunities in this market and then do the right trades.

[dhewantrie]

to learn that my trading positions open at this time is wrong, then I would do is to close the position by accepting losses and open trading positions in the right direction.