After losing trades , what next !
You , me and even banks all of the market traders face the losses , which is the one of the fact about the Forex market , but the game doesn't end here right
losses happens and of course it always affect the trader mentally , physically and financially etc .
But i want to ask that if the traders (retail) face the losses then what a such trader should have to do !
i find that when you've had a loss, take a break otherwise it will haunt you and worsen if you trade immediately. When you have calmed down and can make a rational impartial decision about the market then trade again (could be a day or two later)
This is assuming your trade sizes are all sensibly sized though.
I agree you need to make it slowly and have a break after you've had loss.
Originally posted by 4nt5i find that when you've had a loss, take a break otherwise it will haunt you and worsen if you trade immediately. When you have calmed down and can make a rational impartial decision about the market then trade again (could be a day or two later)
This is assuming your trade sizes are all sensibly sized though.
Aside from rest it also depends largely on the amount you lost, obviously if it was a devastingly large amount then you may want rest a longer period but if it was a dismal amount it shouldnt stop you getting right back on the horse and make other trades (objectively).
If you make continuous losses then you need to start practicing again on a demo. Because you need to revise your strategy. But if you think that you r making good profit to overcome these losses then you can continue with live account and with time, you will automatically get better understanding of market which will eventually reduce loss percetnage.
Originally posted by SashaIf you make continuous losses then you need to start practicing again on a demo. Because you need to revise your strategy. But if you think that you r making good profit to overcome these losses then you can continue with live account and with time, you will automatically get better understanding of market which will eventually reduce loss percetnage.
RIght lossing is part of forex trading its just with us how to minimize thr isk of our loss,besides we can learn onour own trading experienced to become a better trader .But if it doest really works then better to have a break for a while and learn again and think for a better strategies rather than suffering and lossing all your capital.
take a breather, analyze your trades and find out what went wrong.Device a good trading plan and as much as possible try to limit/control your emotions.
Also discuss with others to get their opinion of whatwent wrong, if you have a mentor of sorts then get advice from them.
lol it ironic that i see this thread as first in the forums when i've just suffered a major losing streak...
My advice is to study in hindsight what went wrong and get back on that horse again.
Losing is just normal esp if you are just beginning to trade. The right thing to do after the loss is to analyze why did you lose, then learn from your mistakes. Apply what you learned the next time that you trade.
Originally posted by leebelisarLosing is just normal esp if you are just beginning to trade. The right thing to do after the loss is to analyze why did you lose, then learn from your mistakes. Apply what you learned the next time that you trade.
This is a solid, well said and rich advice.
And I agree with you totally that the best thing that you'll come up with after losing is learing and knowing where exactly you did wrong so you wont fall in the same mistake again