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Thread: How to Control your Losses

  1. #1
    Moderator cool user Resolve's Avatar
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    Mar 2012
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    Lightbulb How to Control your Losses

    How to Control your Losses

    Hello traders,

    I would like to explain you about how to control your losses in your Forex trading. It has happened that you make a plan for your trade and then and when you open the trade after sometime the trade gets into a loss. It may be that your trade is correct but even then because of the market fluctuations and the inherent volatility that the currency markets offer your trade will be in floating loss and can cause problems for your trading activity in general.

    So these are the best steps you need to take:

    1. Always try to open pending orders in the market.

    2. Always try to open pending orders in the market.

    3. Never open orders just before a news is going to hit the market.

    4. Wait for the news to come and then decide your trading.

    5. Keep stop loss at a safe distance so that in the event your trade goes wrong the losses will be Limited.

    6. Also make sure to to trade with lower margins or leverage settings. the ideal leverage that needs to be used is 1 to 50.

    7. Do not open trade when markets are closed or are in Ill-Liquid conditions.

    8. Do not open Hedged Trades.

    9. Do not try to do over trading.

    10. Do not take trading decisions in hurry and give proper time for market analysis and understanding of the market trends.

    11. Never do any any trading activity when you have some preoccupations and will not be able to give proper time to the markets.

    12. Always use Money Management in your trading.

    13. Be confident when you have opened your orders.

    14. Always keep your Trading targets in mind.

    15. Try not to trade when you have just made a Loss.

    Last edited by Resolve; 05-21-2020 at 10:10 AM.



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