The best way to avoid losses is to be prepared for losses - Page 67
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Thread: The best way to avoid losses is to be prepared for losses

  1. #1
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    The best way to avoid losses is to be prepared for losses

    We all know that losses are part of the Forex business and we can never in any way become immune to losses. Even the very expert traders of the world need to book losses in some of their trades. We all have come to trade Forex to earn profits and not to lose money but we need to understand that without learning the art of booking losses at the right time we cannot be successful trader.

    I have seen that many traders never want too book losses and close their wrong trades with small losses. They always wait for an opportunity to book at least some profits and with this attitude they often blow their accounts.

    We need to understand that small losses are always better than big losses and many times using a stop loss or closing a trade with small losses can save us from severe losses.

    In short a trader should be prepared for whatever way the market might move after he opens his trade. Please share your views regarding this

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  2. #661
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    Quote Originally Posted by PROPENSITY100 View Post
    We all know that losses are part of the Forex business and we can never in any way become immune to losses. Even the very expert traders of the world need to book losses in some of their trades. We all have come to trade Forex to earn profits and not to lose money but we need to understand that without learning the art of booking losses at the right time we cannot be successful trader.

    I have seen that many traders never want too book losses and close their wrong trades with small losses. They always wait for an opportunity to book at least some profits and with this attitude they often blow their accounts.

    We need to understand that small losses are always better than big losses and many times using a stop loss or closing a trade with small losses can save us from severe losses.

    In short a trader should be prepared for whatever way the market might move after he opens his trade. Please share your views regarding this

    one way to prevent recurring losses is to learn. therefore it is recommended to make a trading journal. make a trading plan. if you experience loss then it is recorded in the journal. learn where the mistake is. fix and try not to repeat again.

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