Are you loosing money in forex?

I believe that losses prepare us to be lynxes in commerce. Otherwise we would not analyze which are the best hours to trade one or another currency or which are the currency trends that we are negotiating.
The losses I have had have been profiling me as a trader.

togr posted:

hjacob posted:
Losses are part of game and are related to every business. Everyone lose at some point or the other. The fact is how quickly one recovers from those losses and builds gains again. Just don’t get your loss get over your mind and destroy your mindset.

There is a saying to cut loosing trades soon and let profitable trades grow.
The thing is how can you distinguish loosing and profitable? Of course you see trade is in profit or not bu just a bit later it profitable trade can change to unprofitable and vice versa.

I think that is a skill that develops over time, knowledge and experience my friend. Differentiate how profitable in commerce.

korn6 posted:
I believe that losses prepare us to be lynxes in commerce. Otherwise we would not analyze which are the best hours to trade one or another currency or which are the currency trends that we are negotiating.
The losses I have had have been profiling me as a trader.

I would say Lynx is too fast to be good trader. I like more elephant

togr posted:

hjacob posted:
Losses are part of game and are related to every business. Everyone lose at some point or the other. The fact is how quickly one recovers from those losses and builds gains again. Just don’t get your loss get over your mind and destroy your mindset.

There is a saying to cut loosing trades soon and let profitable trades grow.
The thing is how can you distinguish loosing and profitable? Of course you see trade is in profit or not bu just a bit later it profitable trade can change to unprofitable and vice versa.

Of course everyone search for an opportunity to convert losing trades to profitable ones. Sometimes it is not that easy to judge which trade is losing and profitable, but once you are consistently making profits on a particular trade and total losses are increasing in amount then it’s a signal that you are making losing trades. However, there might be chances when you make few losing trades in between then it is not necessary that complete trade is loss making. Always take risk as per your loss bearing potential.

togr posted:

korn6 posted:
I believe that losses prepare us to be lynxes in commerce. Otherwise we would not analyze which are the best hours to trade one or another currency or which are the currency trends that we are negotiating.
The losses I have had have been profiling me as a trader.

I would say Lynx is too fast to be good trader. I like more elephant

I take the word @togr, strong, big and sure. Definitely the good trader is not rushed to win fast, his priority is to build a sustainable trading platform over time.

snapdragon1970 posted:
You can check the trend on the longer period charts, if your familiar with the pair you will have a rough idea how much it is likely to pull back, if it has been bullish all morning its more likely that it will turn bearish soon, buyers have to be sellers at some stage, change of news or data, have certain levels been tested over a short period of time.

Doing this will free us from losses. But we are not exempt from it, one thing is to lose and another to LOSE EVERYTHING and to be left with nothing.

And who not? hahaha 😁

mlawson71 posted:
Everyone lose money in forex sooner or later, the point is not to allow your losses to exceed your profits.

Exactly, I do not think there is too much risk involved in every operation.
I know it is difficult but we must try to maintain the positive attitude, even if we incur losses. You have to be objective and mentally aware that it is something that can happen at any time.

Fear is a lousy companion for a Forex trader. Of course, FX traders fear losses. But losses are a part of the business. 😉

manu1 posted:

snapdragon1970 posted:
You can check the trend on the longer period charts, if your familiar with the pair you will have a rough idea how much it is likely to pull back, if it has been bullish all morning its more likely that it will turn bearish soon, buyers have to be sellers at some stage, change of news or data, have certain levels been tested over a short period of time.

Doing this will free us from losses. But we are not exempt from it, one thing is to lose and another to LOSE EVERYTHING and to be left with nothing.

I agree with you that doing this will free us from the losses ...
Loss positions are unavoidable; In fact, it is usually harder to make money with strategies that try to ensure a very high rate of profit. This is simply the natural way of market movements.

There are some traders who follow a methodology that attempts to greatly reduce or even completely eliminate losses. There are only two methodologies that can achieve this:

1. Add to a lossy position by believing you were right when you placed the original position and you were only wrong when you opened it. You can even add more in the next position to make recovery easier. The reality is that while this may work as a method, it is usually not optimal and we will generally have better results.

2. 'Change with the wind' and open a position in the opposite direction. This is not really 'avoid' a loss, it is actually crystallizing a loss by changing the net position.

I believe that the amount to lose depends on the number of pips obtained, our size of contract and the commission of our Broker

Why Forex Traders Are Losing Money?. For lack of risk management.

Since risk management is the key to survival. It can still be a very skilled operator and still be destroyed by poor risk management. Your job is not a number to make a profit, but to make sure you have what you have. Because your capital is small, the ability to make a profit may be lost.

jhonix posted:
There are some traders who follow a methodology that attempts to greatly reduce or even completely eliminate losses. There are only two methodologies that can achieve this:

1. Add to a lossy position by believing you were right when you placed the original position and you were only wrong when you opened it. You can even add more in the next position to make recovery easier. The reality is that while this may work as a method, it is usually not optimal and we will generally have better results.

2. 'Change with the wind' and open a position in the opposite direction. This is not really 'avoid' a loss, it is actually crystallizing a loss by changing the net position.

Hello,
In theory the strategy 1 may work if you have:
* really large account
* always start adding to position with mini / micro lot
* tested money management
* great control over you - to see most of the time the floating p/l in minus
* to know what exact symbol to trade (ranging would be perfect)

I believe too many IF's :)
In another forum, years ago there were a member trading on that way and his account survived 12 figures of movement. For me personally this is not my preferable way of trading, but everybody need to decide for himself.

90% traders are looser and 71% of their trades are profitable. So, they know very well how to trade. Problem is somewhere else.

1. They don't follow money management. (primary reason finds by DailyFX)

2. They do not think different. You have to think against what 90% people think.

3. Focus on losses not profit. Think how much you would loose if you take the trade first. and try to take less trade.

4. Master a strategy what focused on simplicity and price action.

kerstin71 posted:
90% traders are looser and 71% of their trades are profitable. So, they know very well how to trade. Problem is somewhere else.

1. They don't follow money management. (primary reason finds by DailyFX)

2. They do not think different. You have to think against what 90% people think.

3. Focus on losses not profit. Think how much you would loose if you take the trade first. and try to take less trade.

4. Master a strategy what focused on simplicity and price action.

You should add to that ,false signals by the promotion of TA over load
No understanding of how the underlying market functions.

kerstin71 posted:
90% traders are looser and 71% of their trades are profitable. So, they know very well how to trade. Problem is somewhere else.

1. They don't follow money management. (primary reason finds by DailyFX)

2. They do not think different. You have to think against what 90% people think.

3. Focus on losses not profit. Think how much you would loose if you take the trade first. and try to take less trade.

4. Master a strategy what focused on simplicity and price action.

Having 70% of trades profitable does not mean you make money,
e.g. tp $1, sl $10

Traders also lose money when they fail to recognize the opportunity and also are reluctant in exiting a bad trade which results in a blown account.

With the hundreds of techniques to operate that today exist in the market it is difficult to say which of the techniques or strategies is better, or which one is good. What should be important to you as an operator is that you adopt a strategy that fits and fits your needs. And as Warren Buffet said, there are only two rules to invest, the first 'never lose money' and the second 'always keep the previous rule in mind'