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Posted

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade.

 

goldinsidebars.gif

 

Forex trading pair: GOLD = XAU USD

This is an interesting trade on the forex pair XAU USD.

In the chart above, we see a series of forex price action inside bars. (Highlighted in the blue box)

Meaning bars that are smaller than the previous bars.

When a series of inside bars like the above happen.

It means that price is having an indecision of where to go.

It’s like it is gathering momentum, for a burst out of either side.

Which could either be up or down.

So what happened in this scenario is that we placed 2 pending orders. A buy and a sell.

These 2 orders are marked by the gold line (entry) and the red line (stoploss).

So the buy order triggered. (Gold line -Entry) and we got in on a buy trade.

With that, i took away the pending order for the sell trade and made it a stoploss for the buy order.

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

 

When i trade, i would usually have 2 take profit targets.

So that when take profit 1 is hit. Which is marked by the purple line. I would have taken my first profit off and shifted my stoploss for position 2 to break even.

By doing so, i am also on the “SAFE” side. As price may hit Take profit 1 and reverse back down.

And as i have taken profit a TP1, my 2nd position’s stoploss is shifted to breakeven.

So i am in a FREE trade.

So whether or not it may hit TP2. I have already gotten profits.

In this scenario, i have taken profit at TP1 and my 2nd position has hit my stoploss for breakeven.

So i’m out for this trade.

From this scenario you can see that i am not always perfect.

No one is.

By trading on the above method, we are sure that our account size will grow consistently.

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

 

Lets look at what happen next.

 

goldinsidebars2.gif

 

Price went right down after which.

So if i hadn’t had a TP 1 and TP2 method.

I would have kept my stop loss at the red line.

And made a loss on this trade.

BUT By doing playing the above method.

Instead i have gotten profits..

I hope you gain something from this post. Let me know if you did.

 

Ezekiel Chew

Asia #1 Forex Mentor

  • 3 weeks later...
Posted

Not every trader can make this happen and if you could, then I'll encourage all forex newbies and experienced traders alike to go through your points carefully as I have done. It is also important that a trader applies proper risk management while trading to be successful in the long run.

  • 2 months later...
Posted

Waiting for a losing trade to come in profits may be wise when enough free margin is left to avoid margin call, and little of that can be used trade and bring the entry prices down so we reach break even faster.

Posted

Turning a loosing trade into a winning trade is all about having a positive mental attitude towards your trade. If you believe you can still turn your loosing trade to a winning trade you can do it, just monitor your trade and use good risk management

  • 2 weeks later...
Posted

Well nt doubt this can be possible for now let me let you know that if you ever try to turn a lossing trade into a wining trade through market revenge then properly you are on your way to loss ,so the best ways to handle this is by gentle trading and gradually process the yo can archive this.

  • 1 month later...
Posted

There are some strategies to turn our losing trade to winning trade,

Martingale strategy

Surefire strategy

Martingale is for ranging market movements and surefire is for sideways movements. It should works. If we use the strategy for wrong market conditions then you won't able to change lose into profits.

  • 2 weeks later...
Posted

If its a losing trade the first question you need to ask yourself is their going to be a reversal soon or not? if not then I guess its good to do hedging. If theirs a sign of reversal soon then I guess its good to do averaging. In this way either way the price will go you have a plan on what to do. But in this type of strategy you must have good sense of direction. Because one wrong move will end up you getting double loss instead of getting profit.

Posted

Your strategy seems to be used by many professional traders now a days but still have risks as in case of a Stop loss hit, you suffer twice the loss as you would have with a single position. Moreover, having a fixed SL is more secure than having a temporary SL as it can also help you loose for more than expected.

Posted

congratulations for this but i tell you not every one can do this. sometimes the losing trade turn into winning and winning into losing. it all depends on market.

  • 4 months later...
  • 3 weeks later...
Posted

This was a nice post and connotes that without knowledge and planning it is not possible to make good money in Forex. Its our knowledge and hard work and experience that enable us to make good use of Forex and to recover our losses.

Posted

Well before we can turn a lossing trade to profitable trade I think we need some level of knowledge and good trading skills just to get this suucees.

Without good skills and good knowledge I think there is no way which we can succeed

  • 7 months later...
Posted

Well, if you have enough equity, it will rise again if it falls. Since its so volatile, a downward movement is not necessarily down forever, and it will come back up so if you wait out like an hour it will go back up and you must use stop loss so I guess if you're scalping then it carries much higher risk. But I do long term trading and its better to do that since it carries less risk and you can predict the market so much more. Buy right before it moves upward then you hit the lottery. 

Posted

turning a losing trade into a profitable one depend on the amount one is having in his account,and the market analysis one is having on the market,the most important thing is the trend of the market that will determine if a trading will turn profit,if the trend did change to the other direction,i guess one will surely loss than trade.

Posted

well friends turning a loss right into a profitable trade is about developing a beneficial mind frame of mind to the business. In case you believe that you can flip the loosing trade to a winning trade that you can do the same. only observe the trading in addition to work with beneficial risk management.

  • 1 month later...
Posted

I am a student now and I like forex trading so much. I want to be a good trader, because a good trader can make more and more money from here if he is a good trader and if he has more and more knowledge about forex trading so I want to increase my trading skills.

Posted

I like forex very much and now I am a student, so I want to earn money from forex beside my study and I hope It will be better for me then I will be success in life and success in forex market, so I like forex business so much.

  • 4 weeks later...
Posted

I want o make myself to be a good trader. At the present time forex trading is most important and people can make unlimited money from this market. So they need some skills. Capital is no need.

Posted

If I want to be an honest man and if I want to leave my greed it will be better for us and we will be success in forex life. So we can earn more and more money from here if we want.

  • 1 month later...
Posted

Turning a winning losing trade to a winning trade is something that is quite tactical a lot of times and I would be most glad if I achieve that feat someday. It doesn't really get much easy to do especially when the trend of the market moves against you. For me, I would rather close my positions and call it quit at that moment.

Posted

traders can recover the loss if they are remain calm and stick with trading strategy. many traders involving emotions after suffering loss result. they are unable to control emotions and let it to take control over. if traders able to accept the loss and remain calm, they'll see the market situations clearly and able to implement the strategy in proper way.

  • 3 months later...
Posted

This thing is not an easy type of thing. To turn a losing trade into a winning trade is not easy and that is the reason why I don't try it. It used to make me to revenge my trade and what I will get is to further lose my trades. It is better for me to be able to trade and if I lose, I lose and if I win, I win instead of trying to revenge my trading.

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