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  1. #1
    Kevin Pietersen
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    Got consecutive losses- stop trading immediately.

    When we incur losses continuously it’s an indication that we are going critically wrong somewhere and the situation needs detailed contemplation. Then why we not pay attention to this intention and continue trading even after we incur continuous losses until we finish our trading capital? This may be due to the human psychology of welcoming profits but showing complete aversion to losses. We have not obviously started trading to make losses, but is it not essential to correct our mistakes and improve ourselves before continuing to trade after so many losses?

    Continuous losses indicate something is wrong and needs rectification before we continue with our Forex trading. Forex market does not have short life and will endure even after we leave the planet. So, why not start the process of recovering our losses after dedicating time to rectify our shortcoming and improve ourselves?

  2. #2
    Senior Trader
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    Definitely, consecutive losses mean, we need to check what is happening with our trading strategy or better still we need to look for review our trading to know where we are getting it wrong, I personally don’t trade for long as I only analyze the market for few minute or hours as the case maybe before entering trade. It might not matter a times if we loss 3 times, it might be wrong timing and moreover Forex deal with natural occurrence, so it might be something happening in one country that changes the direction of the market completely.

    I guess that’s way, we are often advise to trade the news as well when analyzing the market because a small country can determine the movement of the market, since it a country with natural resource like crude oil. So, a little problem in the barrel of oil they supply might daily might affect the market. So, I guess we just have a check why does losses has come before taking a break.

  3. #3
    Senior Trader
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    Forex is risky business and very difficult to do, when you start the business as a newbie, a complete newbie who does not know anything about it. Your first 1-3 trading will not make your success or make profit on the business. Forex is hard business, which required many things before one can succeed, before a complete newbie will be able to make money from the business he/she most first has good knowledge and experience about the market and this things are not easy to get too. To get all of this, the newbie has to learn for 6-8 months on demo account before getting them.

  4. #4
    Senior Trader
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    Trading and we are facing losses as we trade the business. Shows that we are not yet in the perfect mode to trade this business. We really need all the carefulness as much as possible for us to trade this business. But we still need to be very much careful when we are trading and we also must make sure that we have the right knowledge to trade this business and even at any loss. We must make sure that we don’t have to leave the business yet as that can be fear that drives as away from the good earning we should have from this business.

  5. #5
    Senior Trader
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    Practice is what we need so much, so that we can be able to trade this business very much well and good and we can be able to earn so much. We don’t need to rush out of the business all because, we had losses as we trade this business. Here in the business, there is always losses and risks in the business.

    We should not rush in trading this business, we should try and make sure that we have to study and have a very good time in learning how to trade this business and then we can be able to handle the business so much well and good. Knowledge is the best thing that we can have first and then we can earn from this business. Besides, we need to use stop loss trading tool permanently thus we can avoid big losses comfortably.

  6. #6
    Administrator
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    If you loosed consistently trade then it’s okay, don’t worry make new plan and trade again but if you loss more than ten consistently then this is really worry sign. Just stop your trading and go out for your refreshment because if you are strictly following your trading plan and previous your experience shows that you are good trader then your no fault. So, after refreshment then start your trading again and follow rule strictly. Remember, this field is tough and risky but don’t give up in any stage just continue your struggle and always learn from market when it will teach you new lesson after loss.

  7. #7
    Senior Trader
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    Quote Originally Posted by Zachary Davis View Post
    Practice is what we need so much, so that we can be able to trade this business very much well and good and we can be able to earn so much. We don’t need to rush out of the business all because, we had losses as we trade this business. Here in the business, there is always losses and risks in the business.

    We should not rush in trading this business, we should try and make sure that we have to study and have a very good time in learning how to trade this business and then we can be able to handle the business so much well and good. Knowledge is the best thing that we can have first and then we can earn from this business. Besides, we need to use stop loss trading tool permanently thus we can avoid big losses comfortably.

    Yes, using the stop loss trading tool is a big fact, we all traders need to use stop loss trading tool so sincerely! By the way, do you prefer fixed SL or flexible SL according to the market context.

  8. #8
    Senior Trader
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    Quote Originally Posted by Marcus Reilly View Post
    Yes, using the stop loss trading tool is a big fact, we all traders need to use stop loss trading tool so sincerely! By the way, do you prefer fixed SL or flexible SL according to the market context.
    2nd one, I mean I like to set my SL based on specific condition of that trade, it mainly depends on the support & resistant level. On the other hand, I also consider profit & risk reward ratio; if that trade offers less than 1.5% profit, then I avoid this trade; I like to ride with high profit ratio like 1:3, 1:4 and so on.

  9. #9
    Senior Trader
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    Quote Originally Posted by Zachary Davis View Post
    2nd one, I mean I like to set my SL based on specific condition of that trade, it mainly depends on the support & resistant level. On the other hand, I also consider profit & risk reward ratio; if that trade offers less than 1.5% profit, then I avoid this trade; I like to ride with high profit ratio like 1:3, 1:4 and so on.
    Wow, that’s really impressive! I really liked your idea on high profit ratio! Thanks a lot mate.

  10. #10
    Junior Trader
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    stop loss is good but just if we have some good ways of trading becasue if we do not have good analysis we can lose our income instead of earning, our every sl can hit so all things can be bad in that way, our priority should be first of al safety then we can think to earn something after that

  11. ARIONFORXtarder
 

 

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