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having a losses
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Imamul

Member Since Aug 09, 2017  324 posts Imamul Aug 28 at 09:36
only learning
 cant help you at all without
 having a regular practice.
so keep focus on practicing besides learning.

Idowu

Member Since Aug 21, 2019  8 posts Idowu Aug 28 at 09:58
practice is very important. it may take months or even years but with practice you can get there ( i hope!)

togr

Member Since Feb 22, 2011  4444 posts vontogr (togr) Aug 28 at 09:58
Having a losses is necessarry and clear part of the trading.
Defining how big losses and how often to take them is the alchemy.
There is IMHO no general rule and solution should be based on particular trading system

I like what I trade, I trade what I like
AniLorak

Member Since Apr 18, 2017  701 posts AniLorak Aug 28 at 17:55
togr posted:
Having a losses is necessarry and clear part of the trading.
Defining how big losses and how often to take them is the alchemy.
There is IMHO no general rule and solution should be based on particular trading system


It’s a part of trading; smart trading don’t try to avoid it; they know way of adjustment!

Roberto21

Member Since May 02, 2019  77 posts Roberto21 Sep 01 at 07:45
We loss for many reasons , one of the most common reason is immature trading plan or target , this approach always make us emotional and greedy , as a result we trade here at random and become loser . we it is more appropriate to make trading plan according to practical situations.

Adribaasmet

Member Since Aug 27, 2017  645 posts Adribaasmet Sep 01 at 15:17
Roberto21 posted:
We loss for many reasons , one of the most common reason is immature trading plan or target , this approach always make us emotional and greedy , as a result we trade here at random and become loser . we it is more appropriate to make trading plan according to practical situations.


No way to avoid your point; I see many new traders are trading with an unrealistic target! As a result’ they face MC regularly!

Professional4X

Member Since Jan 05, 2016  968 posts Professional4X Sep 01 at 20:24
Adribaasmet posted:
Roberto21 posted:
We loss for many reasons , one of the most common reason is immature trading plan or target , this approach always make us emotional and greedy , as a result we trade here at random and become loser . we it is more appropriate to make trading plan according to practical situations.


No way to avoid your point; I see many new traders are trading with an unrealistic target! As a result’ they face MC regularly!


Reasonable take profit AND reasonable stop loss.

equally important.

For example, Let's say I go LONG (buy) EUR_USD I might use a 30 pip SL, depending on news and various liquidity impacting events and such.

If the trade has to go beyond 30 pips then there is a good chance it's going to keep going for a while. The reason I know this, is because a 30 pip movement in one direction on EUR_USD is a short term trend and the typical daily move generally doesn't exceed on that pair somewhere around 90, so 30 is already 1/3 of it's daily move. Those aren't exact numbers of course, but the point is that if a trade is bad, then it's best to just kill the trade and wait for the next set up.

It's better to have a bad trade with 30 pips, than a bad trade with 300 pips. Letting a bad trade run is a HORRIBLE idea. Of course it's even better to have a good trade to begin with. wink




If it looks too good to be true, it's probably a scam! Let the buyer beware.
Merrill

Member Since Aug 27, 2019  7 posts Merrill Sep 02 at 12:15
It sounds so easy when you describe it but it is tough in a live market. Settings stop loss first is best way to limit losses but still hard when take 4x 30 pips loss in a day

Professional4X

Member Since Jan 05, 2016  968 posts Professional4X Sep 03 at 00:26
Merrill posted:
It sounds so easy when you describe it but it is tough in a live market. Settings stop loss first is best way to limit losses but still hard when take 4x 30 pips loss in a day


But it IS as easy as I described it.

This is one of those areas when it is beneficial to use automation to manage the trade basket.

In regard to 4x 30 pips loss in a day, consider this...
If those tickets didn't have a 30 pip sl, and the market turned due a news event and it went 200 pips against you, that's 4x 200 = 800 pips negative.

Also, this is one of those occasions why I also use a smaller units size on my first ticket on the pair.

First ticket: 1000 units (0.01 lots), then when it's moved into profit a few pips I set a break even SL value and let that ticket run, then move up the SL as the profit increases. When I move the SL up, I also step another trade into the basket. Then I repeat this process over again until my basket indicates a profit that I am comfortable with, then I will close my basket down and collect the profits, or just let my set of tickets run knowing that the worst case scenario is that I close them all out at break even profit level.

This is how I personally trade and it's just my own opinion.

How you choose to trade your own account is up to you.

Also, i don't care about how many PIPS I am making a day, week, month, or whenever, the QUANTITY of pips is irrelevant to me. I am concerned only about account percentages and not individual pip counts. And even then, it's a very low priority.

Protection of the account (Risk Management) is the Number ONE rule for myself. Everything else is secondary.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
Imamul

Member Since Aug 09, 2017  324 posts Imamul Sep 04 at 10:43
from all reasons i think emotions is foremost , only due to emotions traders lost their temper and trade at random. only we can control emotions by practicing trading more and more.

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