Apr 27 at 13:57
A few loss in trading is okay because from certain losses you get to develope and build new strategies and skills.
In trading loss will be there. A good trader knows how to recover the loss. They are very calculative and discipline in their trading. But most traders can not tolerate loss. As a result they open revenge trades.
The first step in forex is to accept the losses and learn from the mistakes made so that it avoided during future trades.
Loss is a part of every business. But forex is more risky due to high leverage. Every should know how to minimize the loss. There are different approach one should follow to minimize loss.
@Akasuki Yes you are right. Every trader should know how to minimize loss. As Warren Buffett said, Risk comes from not knowing what you are doing. Skills and experience is mandatory in forex trading.
May 06 at 08:39
loss is an inevitable part of trading and no way to ignore even after having in spite of good knowledge and experience , so we the traders have to take losses easily.
P&L, both are inevitable in trading so learn to take both in stride.
May 06 at 10:38
forexminded posted:
How do you guys set the risk-reward ratio for your trades?
I prefer using 1:3 risk to reward ratio... It has proved ideal for maximum of my trades.
The more your practice, the more you learn.
May 06 at 11:41
Brank_A posted:
P&L, both are inevitable in trading so learn to take both in stride.
Pro tip. We have to accept some harsh truths if we want to emerge successful.
