Recover your loss first - page 2
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Yes if you face loss in your first trade then it is vey necessary to stop no more trade and try to go back and look at your trading plan and pattern and try to overcome those mistakes you have committed.
To me people make bigger losses when they have the mindset of recovering loss asap. One should give importance on executing trading plan accurately than thinking of making profit or recover losses.
As easily we loose it is not easy to recover it , We have to work with new strategy so that we not do same mistakes again .Our next trading should be with profit. Not try to recover instantly , think with cool mind and face market in this way our trading will profitable that will help to recover loss as well as to grow capital.
I do not feel any type of pressure to recover my previous losses. But, I always try to open my new trading position with professional market analysis! In addition, I know loss is a very common part of every business.
As long as you analyze them first, you're doing it right. Never do a trade without any proper preparations just to recover your losses...
Actually, we the traders try to recover our losses according to our trading experience. And, in spite of good trading knowledge, there is nobody who can recover loss completely in this market place with certainly. Last week, I did huge loss during news due to lacking knowledge about all financial indicators that drive the whole market place.
I'm not always recovering my losses in a same day cuz it would be reckless and out from my plan. It would be lot more better if we plan it first and start to recover those losses in the next day.
Actually, my scalping strategy is always comfortable since the order execution time is only 20ms (almost in the right place, no late position). I trade with ECN account in HiWayFX which is regulated by CySEC...
That's a good way, the top important thing when lost should be think about previous trading strategy and find out the reasons.
I think you should first try to become a good trader, losses will be recovered once you start earning from forex trading. It is a very nice feeling when you start withdrawing money from your trading account.
always abide by this rules...
D1>H4>H1 trend
may be your success rate will be increase day by day
I agreed.
I really appreciate your understanding about the topic and glad enough to come across such a beautiful rendering of this issue- which has hardly any information in the internet.