How you react if you repeated losses? - Page 242
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Thread: How you react if you repeated losses?

  1. #1
    Join Date
    Apr 2016
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    How you react if you repeated losses?

    It is not unknown to anyone that losses are a part of Forex trading business, but still most of the traders want to avoid the losses altogether. They do not want to get a single loss in the business. Even I was the same person for first few weeks of my trading. Even when i sensed that market is not moving what I analysed, I still wanted to close my trade with at least a profit of one pip

    I dont wanted any loss but this attitude blew my account most times

    So even when I knew that my analysis went wrong, I still waited for an opportunity to close the trade with the smallest profits, But with profit and not with loss. And this attitude of mine many times made me lose all my account balance. So I learned that waiting for profits will not be always good and sometimes we have to accept losses as this business cannot run without loss. I begin to sense that this always profit attitude of mind is not beneficial for my trading and is making me to trade wrongly.

    I learned that small profit is not worth taking big risk

    So with this losses I learned one thing and that is you cannot make profits in all your trades and at all times. If you try to trade this way then you will rarely end up any day with profits. So you have to turn logical and bear in mind that risk and losses are part of this business and they cannot ever be separated altogether. So learning to accept losses when they are withing acceptable limits is very necessary to move on successfully in this business.

    Not allowed!

  2. #2411
    Join Date
    Mar 2017
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    Received: 58
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    If you are experiencing this loss in a repeated mode, take a break from the live trading and try to switch to demo trading again. While you demo trade study your past trading in the live account and try to understand what you are not getting right. No one is happy to be loosing everyday and it will do a trader good if they can plan on how to handle this risk and build something that can help them earn from this business. Loss should be well managed and we should learn from our mistakes to get better.

    Not allowed!

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