Hello guys, well so far we have seen that many forex traders has stated that losing money is much easier than winning money in Forex. Is there a way where we can stop losing money and make more profits?? Many strategies and comments will be most welcomed. Thanks
Is there a good way we can Stop Losing money?
- Thread starter FxVictor
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in general and the most basic of all and this is always told to new traders in forex, practice practice practice, stick with demo trading and try to learn as much as possible about the market the pairs, the news the basics, the strategy, forex trading is so big you can not learn in just one year, the winning in forex is not about earning big, but its minimizing the risks by learning the trade and the charts and everything about every detail a certain pair.
While trading forex, you are sure to lose sometimes. Actually, you can't stop losing in forex, but you can minimize your loss and maximize your profit. There are many ways to minimize loss, and that is the use of the stoploss option. You can also learn to scalp, by registering with brokers that fully allow scalping. You won't lose much when you scalp. I have been using Profiforex platform to scalp and I so much love their execution speed. You can also learn how to hedge. This means opening opposite positions at the same time. These strategies will help to make more profit while trading forex.
With good money management, I think we can minimize the losing of our money. It will keep us in relax and finally we can recover our loss and turn in to profit It is impossible to win all transaction 100% in forex trading bsuiness.
so i always put stop loss each open transaction to minimize my loss if i make make mistake. sometime loss is necessary to know our trading strategy weakness
so i always put stop loss each open transaction to minimize my loss if i make make mistake. sometime loss is necessary to know our trading strategy weakness
Jira is right - you need to focus on risk management first to protect your capital....
If you cannot protect your capital, you are likely to lose, or give back profits, regardless of how good your strategy is.
Once you've learnt to protect your capital, then you can start to focus on the reward, and then start being picky about which strategy you use.
If you cannot protect your capital, you are likely to lose, or give back profits, regardless of how good your strategy is.
Once you've learnt to protect your capital, then you can start to focus on the reward, and then start being picky about which strategy you use.
ONLY one strategy for 95% of new traders is :
not to trade at all !!!
....not until You gain proper knowledge
and start slowly ... I mean very slowly ... demo (not too long), micro/mini real account ; small leverage and not hurry !!!!
not to trade at all !!!
....not until You gain proper knowledge
and start slowly ... I mean very slowly ... demo (not too long), micro/mini real account ; small leverage and not hurry !!!!
Here're a few tips:
Learn to trade, start with the demo, track all your trades and try to increase the account balance.
Avoid EAs and opt for manual trading
Start small, like a nano account and go live after you have a strategy in place - not before.
Good luck!
Learn to trade, start with the demo, track all your trades and try to increase the account balance.
Avoid EAs and opt for manual trading
Start small, like a nano account and go live after you have a strategy in place - not before.
Good luck!
its good topic i want thank you on it ,yes we can transfer the loss into profit by applying the technical analysis and the fundamental analysis and proceed in taking this business
with very serious way to make a profit
with very serious way to make a profit
The most interesting part of Forex is that you never know if the position you opened will end in gaining or losing, so do not think much, lose, gain then again lose, gain, it's really cool.
If you're a new trader, you're probably making the big mistake all newbies make. You trade too much. That can be taken two ways. One is velocity and the other is amount. I'm speaking of amount. When I started and throughout my "training," I never traded more than 0.01 lots. You see, bigger numbers were not my target. Positive numbers were my prize. Many burn through Demo accts for no earthly reason. To say you won a big trade? In Demo??? You just end up wasting money.
So, to answer your question, if you haven't realized it yet, is learn and practice. Over and over. There's no simple way around it. Believe me, all here, myself included, have looked. It's like the Million Dollar Robot. It just doesn't exist! Learn it. Learn it manually and you'll never regret it.
So, to answer your question, if you haven't realized it yet, is learn and practice. Over and over. There's no simple way around it. Believe me, all here, myself included, have looked. It's like the Million Dollar Robot. It just doesn't exist! Learn it. Learn it manually and you'll never regret it.
I think the two most important aspects would be good risk management as well as a good trading strategy. I am comfortable with my own risk management, but I am still working on my strategy which means that I am due for a few more loosing weeks (hopefully less) before I turn the corner.
Yup! A micro or nano lot is perfect for practicing, of course you can also do the demo but I usually suggest demo to develop a strategy which you can try out on a micro account. Keep track of all trades and as others have pointed out, it takes time and practice
Well, Traders are always looking forward to gain big amount of profit. Indeed, Forex Trading is long term planning so you need to use innovative strategies for that. If you do proper planing and avoid to take early decision so, it could be beneficial to loosing your money in this Forex Trading Business.
Going from live back to demo is a terrible idea in my opinion. You need to have a good risk management plan which you follow so that even a streak of bad trades does not wipe you out. Trade micro-lots until you have a good strategy before trading bigger volume. Going back to demo (even starting in demo) is a suicidal mistake for traders.
Yes agreed with all of you and the best strategy i personally agree with is Money management. This is a good way we can prevent losing money in Forex, this is essential as we will be able to manage our account effectively and the outcome will surely be positive. There are still many that you shared but this is one of my best.
The best way is stop your trading forever 
. Joke:
I meant it's not easy to stop losing on forex, you can win but not forever, Forex is like our life, we have to get problem, failure (losing) for growth up (increasing our trading skills).
But I do think you should keep trading and gain expericing, minimum the lost by minimum your lot trades.
. Joke:I meant it's not easy to stop losing on forex, you can win but not forever, Forex is like our life, we have to get problem, failure (losing) for growth up (increasing our trading skills).
But I do think you should keep trading and gain expericing, minimum the lost by minimum your lot trades.
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