How do you handle your losses?

[Bruce Blair]

I realize that losing is a piece of the diversion. No trade is a "certain thing". Because of this, great traders don't waver to acknowledge misfortunes, realizing that in the event that they keep on taking ascertained dangers, they will in the long run be fruitful. The expert forex trader dependably addresses his or everything she might do and absolutely investigates the purposes behind which he or she opens a position. I do binary options trading. For my trading I like lxmarkets.com as it is one of the best options brokers in the internet. The broker has the best trading platform in the options arena. You can instantly withdraw you money from your account without any hassle. Hope it works for you. Cheers

 

[bigdolly]

Always set stop losses as tight as possible. Don't keep trades open more than your TP and don't close them because of fear.

 

[dianajs]

Always set stop losses as tight as possible. Don't keep trades open more than your TP and don't close them because of fear.

Using a too tight stop loss is not the best idea, in my opinion. A random and normal retracement could just close your position and after that the market moves in your direction. It has happened to me more than once.

 

[EURUSD]

Using a too tight stop loss is not the best idea, in my opinion. A random and normal retracement could just close your position and after that the market moves in your direction. It has happened to me more than once.

Each trader eventually has various opinion about the case, tight stop loss indeed will often and might easy hitted, but long stop loss also if facing mistake analysis loss also high, and as trader having own way to manage their money because forex also like as art business

 

[dianajs]

Each trader eventually has various opinion about the case, tight stop loss indeed will often and might easy hitted, but long stop loss also if facing mistake analysis loss also high, and as trader having own way to manage their money because forex also like as art business

That is a good point. In the end what matters is what works for you. For me, personally, too tight stop losses don't really work so I don't use them, but if they work for someone else, good for them.

 

[carnelian]

I can just bear loss when it occurs . We can not fight with loss , we have to do future planning for best trading . I try to use less risk in trading because high risk may lead to high loss it is best technique for all traders to handle with loss.

 

[TrapLok]

I guess the least pleasant moment in trading is deposit drain... In addition, every person handles it differently, some try to compensate the losses and start trading with even more enthusiasm, some on the other hand take a break, I personally belong to the latter. I try to rest and analyse my mistakes.

 

[EURUSD]

That is a good point. In the end what matters is what works for you. For me, personally, too tight stop losses don't really work so I don't use them, but if they work for someone else, good for them.

I think we also has own choice whether will use tight stop loss or larger stop loss, if trader use tight stop loss might they using pending order according analysis and want get price on certain area and also put stop loss on tight distance, but indeed this way also possible pending order not hitted

 

[AlecR]

I am using averaging techniques these days instead of stop loss and using average TP to get out of losing trades. For this we have to use small lots and cannot do on high lots because it will be too risky then.

 

[dianajs]

I think we also has own choice whether will use tight stop loss or larger stop loss, if trader use tight stop loss might they using pending order according analysis and want get price on certain area and also put stop loss on tight distance, but indeed this way also possible pending order not hitted

I admit that I almost never use pending orders. I know how, but I generally lack the patience for it. If I see a good signal I open a position manually, but I rarely place pending orders.