having a losses

Exactly, making useless investments without any basis as a result of the desperation of a loss is a serious mistake made by many users, What needs to be done is to calm down and take some time to think things through, because if we continue like this we will only have red numbers in our capital.

Yes being calm down and keep the situation under control is key skill to be successful.

as a newcomer i was much profitable in demo account with my trading strategy , but when kick off a live account the same strategy didn't work as like before    

Aaronpp posted:
Exactly, making useless investments without any basis as a result of the desperation of a loss is a serious mistake made by many users, What needs to be done is to calm down and take some time to think things through, because if we continue like this we will only have red numbers in our capital.

Agreed! Prefer to discontinue trading when losses put you in emotional stress.

Imamul posted:
as a newcomer i was much profitable in demo account with my trading strategy , but when kick off a live account the same strategy didn't work as like before    

A common problem. Use a tiny lot size like 0.01Lot to start with and very very sloooowly increase lot size. That should help

Yes; 0.01 is the best option to start with! Whatever your trading equity it is; staring from the beginning with a sluggish flow is important!

according toe me, devoid of using stop loss , trading condition as like a ship in an deep ocean without a rudder, so never trader without this technique at all.  

Mohammadi posted:
according toe me, devoid of using stop loss , trading condition as like a ship in an deep ocean without a rudder, so never trader without this technique at all.  

Without SL? No way? Basically, trading without stop loss means; we are taking 100% risk in each and every trade; that is truly unrealistic!!

Roberto21 posted:
as a new Fx trader consistent successful trade is much difficult , i don't recommend it. just try to control greed and emotions , that's all.

True; a proper game plan is very much essential before the final jump! Otherwise, the journey will be destroying for sure!

only learning
 cant help you at all without
 having a regular practice.
so keep focus on practicing besides learning.

practice is very important. it may take months or even years but with practice you can get there ( i hope!)

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

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 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!

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. 😉

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

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.

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.

Roberto21 posted:
the man who can make real money from here of course has most powerful analyzing trading knowledge including a reliable support from a credible trading broker.  

Your trading strategy is the key; if you are trading with a good strategy then the journey will be enjoyable otherwise it will be painful!