1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

How do you handle your losses?

Discussion in 'Beginners Bootcamp' started by Rambo35, Dec 18, 2013.

  1. nahiyar

    nahiyar Private, 1st Class

    Joined:
    Jul 30, 2011
    Messages:
    652
    Likes Received:
    21
    Very true only our own efforts are fruitful in forex trading. No one can live for a long time in forex business on other's skills or suggestions .Problems you are feeling during trading are solved by you . No one can decide better rather than a owner of an account. Because he knows well his goals and risk managements. I learned through my own experience the ways to handle losses.
     
  2. bigdolly

    bigdolly Master Sergeant

    Joined:
    Oct 21, 2013
    Messages:
    725
    Likes Received:
    43
    And what's your approach or handling losses. Stop loss works for me and I guess it works for others but I would like to have more advanced tools in my toolbox
     
  3. bigdolly

    bigdolly Master Sergeant

    Joined:
    Oct 21, 2013
    Messages:
    725
    Likes Received:
    43

    How do you handle your emotional and psychological shortfalls to avoid affecting them your trading? Any trusted and proven methods?
     
  4. fxekspert.eu

    fxekspert.eu Recruit

    Joined:
    Oct 9, 2018
    Messages:
    15
    Likes Received:
    1
    I think it´s not just tools you can use but what you can do on a emotional level. Every trader really needs to think these emotions through for themselves. For example, a trader can suffer from fear of losing money or fear of missing out on gains. They need to exercise self-control in a way that they can block out those feelings in advance.

    This is exactly why every trader needs a trading plan. But not just have it, stick to it too..
     
  5. Forexrider

    Forexrider Private

    Joined:
    Jun 14, 2018
    Messages:
    27
    Likes Received:
    2
    Handling the trading losses is the most difficult part of the forex trading business, since as soon as we lose there are very high chances of being felt demotivated and a sense of failure with trading business due to lack of risk and money management.
     
  6. scott11

    scott11 Recruit

    Joined:
    Feb 6, 2016
    Messages:
    106
    Likes Received:
    3
    It is not easy to handle losses in forex trading. You need to understand that there will be a lot of losses in forex trading. You need to be ready for them. The best thing to overcome from the losses is to keep on trading by learning from your mistakes. I am sure that you will face success in life.
     
  7. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,113
    Likes Received:
    39
    Sometimes so very difficult to handle loss, discipline actually required to manage the risk, but sometimes emotion break down my discipline and the cause loss that occurred, my strategy to handle loss or to minimize loss is with trying open two pair that has similar movement and open trades opposite option, like as eurusd and eurjpy, to minimize risk I will open buy and sell on both currency, if later getting clear the trend usually will modify to add new order according to the right trend
     
  8. nahiyar

    nahiyar Private, 1st Class

    Joined:
    Jul 30, 2011
    Messages:
    652
    Likes Received:
    21
    Yes it is right you say , some times we can not remain much disciplined as we want due to several reasons as Market situation changes our mind suddenly we can decide what we did not planned before. Then emotions also involved. Money is quite attractive thing we break our own rules when find some thing is coming more in shape of profit to us. It is also a reason to togo the high risk while we not care about our planning.
     
  9. dianajs

    dianajs Private, 1st Class

    Joined:
    Dec 9, 2015
    Messages:
    778
    Likes Received:
    39
    I think that a good trading plan should take into account said sudden changes in the market so that they don't take you by surprise, which in turn lowers your risk.
     
  10. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,113
    Likes Received:
    39
    Lower the risk is wise decision to handle losses in trading, with low-risk trading also can make emotion been stable and not over emotion when faced with losing trades, a big emotion that often disturbed overall trading is greedy if any trader always open trades based on greediness, hence will usually facing to the bigger loss
     

Share This Page