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  1. #1
    Rookie nsawork's Avatar
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    Smile Loss Control Techniques

    Loss Control Techniques

    Hello traders,

    I would like to share with you some of the Loss Control Techniques that i have known in my Forex Trading Experience of 4 years

    Some of you might already be aware of them but then it is necessary that i put them together in a concise and clear format so that all traders whether Newbie or Pro will be able to take the Full Benefits from it.


    Loss Control Techniques:

    1. Never trade without Stop Loss.

    2. Never trade in Ill-Liquid Market conditions ( Usually when Major Forex markets are closed).

    3. Never do Hedged Trades.

    4. Always use Take Profits in your trading.

    5. Never trade when you have no prior trade information.

    6. Avoid being Greedy.

    7. Never do Over Trading.

    8. Always read and try to understand the Markets before placing your orders.

    9. Avoid taking trading decisions in a hurry.

    10. Never trade when you are upset.

    11. Never do Gambling in your trades.

    12. Be confident when you have opened your orders.

    13. Always use Money Management in your trading.

    14. Try not to trade when you have just made a Loss.

    15. Always keep your Trading targets in mind.


    Still there may be conditions when you will get a Loss so it is quite natural. But if you will follow my above Guidelines then your Losses will actually start to come down and you will see that your Profits are Surging ahead

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  2. #21
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    Quote Originally Posted by ngalapreceh View Post
    yes, we have to learn. I think the stop loss is the answer of loss control techniques. because the stop loss will limit the loss automatically. but traders should have a commitment to discipline the loss limits. do not change the stop loss level. so before trading, we already know the risks. we can accept the risk
    [lang=id]stop loss is a good thing to limit loses but it became a serious problem for them who use stop loss and if stop loss is always hit by the price, so traders need to know for how to set stop loss, because it becomes the boomerang for them if can not make proper analysis[/lang]

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    Rookie nsawork's Avatar
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    Quote Originally Posted by samprazaan View Post
    [lang=id]stop loss is a good thing to limit loses but it became a serious problem for them who use stop loss and if stop loss is always hit by the price, so traders need to know for how to set stop loss, because it becomes the boomerang for them if can not make proper analysis[/lang]
    We should try to manage our trading in such a manner that our losses could come down. Now no matter how we try still we will continue to get some losses in our trades. This is why when we want to do our trading we should first check with the markets so that we can fairly asses the Trading Risks and then we would be able to reduce them. If the risks are less then the profits will come up.

    This is why i have mentioned some of these Techniques using which you will have Less Losses

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  4. #23
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    Quote Originally Posted by nsawork View Post
    We should try to manage our trading in such a manner that our losses could come down. Now no matter how we try still we will continue to get some losses in our trades. This is why when we want to do our trading we should first check with the markets so that we can fairly asses the Trading Risks and then we would be able to reduce them. If the risks are less then the profits will come up.

    This is why i have mentioned some of these Techniques using which you will have Less Losses
    Truly, it is true about what you said, but traders can not have the sufficiency of success without having good trading system. There is a way that would make the management the trader is using easy, but the trading system would be the first thing to look into. The better the trading system, lower the loss and the better the results to get.

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    Rookie nsawork's Avatar
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    Quote Originally Posted by cozard007 View Post
    Truly, it is true about what you said, but traders can not have the sufficiency of success without having good trading system. There is a way that would make the management the trader is using easy, but the trading system would be the first thing to look into. The better the trading system, lower the loss and the better the results to get.
    Each trader may not become successful in this business as we all know that in order for us to earn any income from our trades what is really important is to set some targets and then set out to achieve them. When our trading system is good and is also giving us some results then our income potential is greatly increased. We should try to use methods that will reduce our losses.

    And when a trader is trading with Lowered Targets and knows the consequences of getting a loss in his trades then only he would become successful

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  6. #25
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    Quote Originally Posted by nsawork View Post
    We should try to manage our trading in such a manner that our losses could come down. Now no matter how we try still we will continue to get some losses in our trades. This is why when we want to do our trading we should first check with the markets so that we can fairly asses the Trading Risks and then we would be able to reduce them. If the risks are less then the profits will come up.

    This is why i have mentioned some of these Techniques using which you will have Less Losses
    [lang=id]make lower target will help us to reduce the risk, yes, i do agree, because at last, the target will become something relevant and easier be reached by them, this is not a bad thing and even as the good thing for traders, lowering target will make us always think with realistic and set it based on the ability and the condition[/lang]

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  7. #26
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    Quote Originally Posted by samprazaan View Post
    [lang=id]make lower target will help us to reduce the risk, yes, i do agree, because at last, the target will become something relevant and easier be reached by them, this is not a bad thing and even as the good thing for traders, lowering target will make us always think with realistic and set it based on the ability and the condition[/lang]
    Good point, in general having good risk reward ratio should be followed but we need to be realistic sometime the market wont give us the risk reward ratio we wanted so we must be able to sense if the market can possibly hit our target or not, securing profits is important in order to be profitable, as one coach said take the silver if we cannot get the gold.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    Quote Originally Posted by nsawork View Post
    Each trader may not become successful in this business as we all know that in order for us to earn any income from our trades what is really important is to set some targets and then set out to achieve them. When our trading system is good and is also giving us some results then our income potential is greatly increased. We should try to use methods that will reduce our losses.

    And when a trader is trading with Lowered Targets and knows the consequences of getting a loss in his trades then only he would become successful
    we do not just talk the target profit, but also the loss limit. so we should have a good risk and reward. I think the target will depend on the style of trading, we have to know the style of trading, scalping, intraday, swing or longterm, all have different targets. very important to have a good risk and reward, so that they can survive the trading account

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  9. #28
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    Quote Originally Posted by ngalapreceh View Post
    we do not just talk the target profit, but also the loss limit. so we should have a good risk and reward. I think the target will depend on the style of trading, we have to know the style of trading, scalping, intraday, swing or longterm, all have different targets. very important to have a good risk and reward, so that they can survive the trading account
    Lots of things relates together to give the trader success, that is why is o much agreeing with what you have said. Success comes with good package to the trader, and the more the trader is working on the trading system he truly understand with good trading management and plans, I think things will always yield rightly.

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  10. #29
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    Good and authentic suggestion and we need to follow it. If we follow all these points, then we can able to become a good and profitable trader- no doubt in it. Thanks for posting these fifteen points- I appreciate and trying to follow it in my trading now. Specially, we need to continue greed-free trading with proper TP and SL. Patience is also needed to learn better forex trading.

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  11. #30
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    I think almost all these things are precautions before you open an order. I am just looking for some advice what could be done when we are already in a big floating loss trade. I think if anybody can write about it would be more helpful as we face lose in our trades most of the time even if we have followed all the things you have mentioned here. Looking forward to few tips about that.

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