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How do u react, the moment your trades hits stoploss?

jou yu (Orientalgeneral)
Dec 24 2011 at 10:00
posts 34
Mine is that i take like 30 minutes brake, reading the market to know where to enter back maybe to recover my loose, or if the market is do dull after that, i may take a breake for the day.

How do u react?

Jason Ryan
jasonryanforex
Dec 24 2011 at 11:04
posts 6
Take it in your stride, losing a trade is part and parcel of fx trading. Do not rush back into the trade, because chances are you are going to make a trading decision you'll regret. There will always be good trading opportunities every single day.

Look at the long term, realize that forex is going to be around for a long time to come, so there is no need to rush back into any trade. Keep your emotions at a calm level when entering a trade (*it is difficult to keep our human emotions calm when we have just lost a trade)

Hope this helps!

Wishing all traders success,

Jason Ryan

jou yu (Orientalgeneral)
Dec 24 2011 at 11:20
posts 34

   jasonryanforex posted:
   Take it in your stride, losing a trade is part and parcel of fx trading. Do not rush back into the trade, because chances are you are going to make a trading decision you'll regret. There will always be good trading opportunities every single day.

Look at the long term, realize that forex is going to be around for a long time to come, so there is no need to rush back into any trade. Keep your emotions at a calm level when entering a trade (*it is difficult to keep our human emotions calm when we have just lost a trade)

Hope this helps!

Wishing all traders success,

Jason Ryan


You are correct, most traders always find it difficult to control their emotions after loosing a rade, infact that is one of the problems u have to overcome to be a good risk manager

Chikot
Dec 24 2011 at 12:47
posts 2299
I personally feel nothing anymore. start looking for another opportunity right away.
the most important is not to move stops as it interferes with overall profitability. Even additional 10-20 pips move can hurt longer term. I wonder how many trader's gut feeling says they are wrong before stop is hit and they close trade for less pips loss. It happens to me almost bal the time. I sense that I am wrong and 90% I am right about it.
Like 2 days ago. went firstly short on e/u. then I saw little progress in my direction instead pip by pip move against me higher low. I closed for 4 pips loss instead of 20 and reversed. Bingo!

I also strongly believe that trading without having stops and having high hit rate is an illusion. sooner or later fat tails will kill that trader's account.

7forex
Dec 26 2011 at 19:35
posts 56
I really appreciate this thread and all your posts. They help me so much and I need to learn, improve myself from your advices because I always want to get right it to earn what I just lost back after being stopping out.

I must think getting stopped out is one of the right thing, instead of thinking I am wrong. I should also walk away from the computer for a while just like Affi2 post.

Anyway, I can trade well when I can control my emotion and trade terrible when I am trading emotionally. Must improve myself on this area which is the hardest part of Forex trading.

I love taking risk with the right returns.
Steve Walker
walker36
Dec 27 2011 at 01:42
posts 1341
if your trading system is not generating profit for medium and long term then it does not matter how you react or feel after a loosing trade or loosing period due at the end the overall result will be loose. so before start trading live be sure that your system is profitable or at least not a looser. to do this you should test it with demo and or by coding. depends on the system.

walker

jou yu (Orientalgeneral)
Dec 27 2011 at 05:30
posts 34
^^ We are tallking about winning systems

Steve Walker
walker36
Dec 27 2011 at 05:45
posts 1341
if its a winner no need to discuss the emotions or loosing periods. its a winner

7forex
Dec 27 2011 at 06:30
posts 56
To me, most systems can make money. However, only the traders who can manage their emotion well can really make profits from trading. I trade the same system for many years and only make money when I can manage my emotion well and lost huge when I am trading emotionally out of control.

I love taking risk with the right returns.
Steve Walker
walker36
Dec 27 2011 at 06:48
posts 1341
I am not talking about some traders that they really feel the trades this is something like a musician that can play piano form age 5 but for all other traders the Symptoms for Long and Short are the same. what ever used to determine.

when I code a algo for Long I copy it and test it on short also as it is and got the quite same results. the only difference is the when market sideways or trending.

what I have learned is closing over a level 2 times or breaking trendlines or support or what ever means nothing. if price will move it moves no matter what.

any trading system can make money for certain time period. the importance is the consistancy and %DD.

last few months what I have understand is bar close bar low bar high price action means also nothing. the most important thing is the patterns. you can call those Elliot patterns sHs or others.

walker

Jason Ryan
jasonryanforex
Dec 27 2011 at 07:12
posts 6
Hi there 7forex, don't beat yourself down about it. Forex trading is a constant learning curve. The fact that you are aware of the problem is a good sign. You can better control your emotion by reading & learning more about trading psychology.

To your success,

Jason Ryan

jou yu (Orientalgeneral)
Dec 27 2011 at 08:29
posts 34
Jos (liquidityFX)
Dec 29 2011 at 19:06
posts 61
Hmmm, I tend to not watch my system's live accounts too much, only the demo's for those components that I'm still testing (after a successfully 99% backtest). But, if I was trading manually...I would really hate to hit stoplosses and would probably watch TV for 15 minutes with a cup of tea :)

When you fall you learn, then you get up and you try again until you master it.
soyamilk (soyamilk)
Jan 07 2012 at 10:51
posts 2
😂 if i didn't follow my trading rules then I raise my fist and say 'you stupid, why did you take that trade'.

😎 if I followed my trading rules I remain calm, then to review and see what went wrong

If there is a trend in SL being hit, then should take a week break

Simplicity is the ultimate sophistication. "Leonardo Da Vinci"
Chikot
Jan 07 2012 at 11:11
posts 2299

   soyamilk posted:
   😂 if i didn't follow my trading rules then I raise my fist and say 'you stupid, why did you take that trade'.

😎 if I followed my trading rules I remain calm, then to review and see what went wrong

If there is a trend in SL being hit, then should take a week break




by 'trend in SL being hit' you mean losing streak?

soyamilk (soyamilk)
Jan 09 2012 at 07:47
posts 2

   Chikot posted:
   

   soyamilk posted:
   😂 if i didn't follow my trading rules then I raise my fist and say 'you stupid, why did you take that trade'.

😎 if I followed my trading rules I remain calm, then to review and see what went wrong

If there is a trend in SL being hit, then should take a week break




by 'trend in SL being hit' you mean losing streak?


yes. losing streak

Simplicity is the ultimate sophistication. "Leonardo Da Vinci"
Callen Aw (callenaw)
Jan 18 2012 at 11:40
posts 25
If it's 2 consecutive loss, I take a break and wait for the next session. One way is if I decide to enter a trade with huge SL, I'd reduce my contract size. This way my losses are manageable. I would also plan on what possibilities and GOOD setups might occur and only trade them.

Let the market come to you
angelbullcom
Feb 04 2012 at 22:31
posts 5
A lot depends on the trading style, but if you hit bad trade after another bad trade, that means something is wrong what you dont know. Just go away, let the time pass, newer try to fight back.

SilverBullet (SilverBullet)
Feb 12 2012 at 07:39
posts 5
Stop Loss is a signal to tell you in which direction the market is moving. Trade in the opposite direction.

Gary Sharp myfxpt com
myfxpt
Feb 24 2012 at 08:18
posts 345
It's just another trade...good or bad. A good strategy is only as good as the person trading it, and if hitting a stop-loss makes you uncomfortable then you probably don't understand the strategy you are trading. For instance, if a system is historically running on a 50/50 win/lose ratio, with losses limited to 2% of equity combined with an average 10% gain per winning trade, then hitting a stop-loss is merely a stepping stone towards the next profitable trade. Historically the strategy will make a 50% gain and a 10% loss over every 10 trades. Of course, what we can't see coming are the potential 50 losing trades in a row, to be followed by 50 winning trades in a row...now that would be disconcerting!

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