Is there a good way we can Stop Losing money?
- Thread starter FxVictor
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Irrespective of the trading system you use, you’ll go thru periods of winnings, roll-downs and flat performances. During these periods, you shouldn’t feel discouraged or dejected; eventually you’ll recover your losses and move ahead. Now and then, market wizards’ performances are punctuated by periods of negativity, and there’s no way around this. Ultimately, most of them (especially those who’re good at risk management) would recover their losses and move ahead.
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 liveafter you have a strategy in place - not before. Good luck!
Best answer I've seen so far, and truthful.
1. Learn to trade. BINGO! No robots, unless you just have to throw money away, even on Demo. Remember, you may not have your "robot" handy but your fingers and mind are there always.
2. Learn in "small" mode. Meaning trade 0.01 lots! The only question you're faced with is is your acct bal growing or losing? Pennies will answer that one. You don't need big bucks to figure that out unless you're a "Demo Arsonist" because you'll burn through accts.
3. Track your trades. Important point is you learn nothing from a win, only verification. True learning comes from understanding your loses.
4.Live Accts. You must pass thru 4 phases in your learning. Lose a lot, lose a little, win a little and win a lot. Go live according to your phase.
You should be between phase 3 and 4, sometime between 6 months to a year. And that's with full-time practice and study. Don't get in a hurry. That's deadly. Take your time. The FOREX river won't dry up before you're ready. It just changes course occasionally. Do it right and do it once.
We approach university studies and professional courses with utmost seriousness, persevering in spite of obstinate hurdles. We approach highly competitive sports and other forms of commercial activities with staunch determination and unflinching commitment. But we tend to approach trading with levity. Trading is a very serious profession which we should approach with staunch determination and unflinching commitment.
Good market analysis and money management is the best way to stop high losses. We face loss iforex , we can avoid them some how or minimize them . It is possible with deep anlaysis and after i riht decision about lots, Reain active and careful you can close trade any time when it is dangerous to continue trading.
I think we cannot earn in every trade, so we should put SL strictly.
Never mind you have lost some. Just stop it to start new trades.
Never mind you have lost some. Just stop it to start new trades.
It is normal to face losses from time to time and part of trading in my opinion.
This is why many people lose money in this business.
Forex is a business, its not a hobby, or a game, or a get rich quick scheme.
You are putting your money on the line against the best traders in the world, so you have to have the same knowledge as they have, to beat the best you have to be the best.
I have been trading for 9 years, there is nothing i do not know about trading Forex, and take if from me if you do not get educated to a professional level you will lose your money.
You can use risk reward and money management to limit your losses, but you will never make the sort of money that the big boys make unless you have the same understanding as they do.
hile 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.
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!
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!
the best way is keep in learning and away from your errors....
If you can away your errors, i'm 100% sure that you will never do same fault again..
If you can away your errors, i'm 100% sure that you will never do same fault again..
to stop loss is not possible in forex trading . every time we can not win from market . It is a circle of profit and loss . Sooner or later we face loss. However it is possible to manage our trades in a manner where we can reduce loss and maximize profits.
I agree with previous that it`s not possible to eliminate losses 100% but you can limit your losses by using a stop loss orders. When I enter a trade then I always try to take 1:2 risk reward ratio.
Truth be told, not just a way but there are a number of ways with which you can make sure that you lose minimum possible amount in the forex market and you make the maximum profit out of it. BUt the thing is that a way that works for me, might not work for you and vice versa. So in order to find out what way works best for you and fulfills your purpose, you are gonna have to try the demo account.
This question has an EZ answer: Learn more or leave the business. Bottom line! Why stay if you can't/won't learn? Forex will put you through 4 specific phases: You lose a lot, you lose a little, you win a little and you win a lot. Timing of that is up to you and you alone.
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