euro Posted October 10, 2013 Share Posted October 10, 2013 I guess as a trader you will have trades where you think the trade will move in your direction but then it moves the complete opposite and you woke up to find out that you lose like 80 pips or so. Well, this is the reality of forex. You might sleep and then your prices lowered significantly so when you wake up you know that you have to wait for another day for it to go back up so do't be surprise when it does. Have you had such experiences? Quote Link to comment Share on other sites More sharing options...
gaban Posted November 14, 2013 Share Posted November 14, 2013 I guess as a trader you will have trades where you think the trade will move in your direction but then it moves the complete opposite and you woke up to find out that you lose like 80 pips or so. Well, this is the reality of forex. You might sleep and then your prices lowered significantly so when you wake up you know that you have to wait for another day for it to go back up so do't be surprise when it does. Have you had such experiences? yes, I had that experience. I did not install SL when trading. I predict that the price will rise. I do not close the trade when sleeping. As a result, the price reverses direction does not fit with my predictions, so I lost a few pips, even close to the MC. For now I am more careful when trading. I will put my SL when trading i am not closed when sleeping. Quote Link to comment Share on other sites More sharing options...
TenkoFx Posted December 22, 2013 Share Posted December 22, 2013 yes, I had that experience. I did not install SL when trading. I predict that the price will rise. I do not close the trade when sleeping. As a result, the price reverses direction does not fit with my predictions, so I lost a few pips, even close to the MC. For now I am more careful when trading. I will put my SL when trading i am not closed when sleeping. SL is the good money managemant in forex trading. that are a barier for us from suffering a big losses in forex trading. for me that are a crucial for the the trader to use SL Quote Link to comment Share on other sites More sharing options...
gaban Posted December 30, 2013 Share Posted December 30, 2013 The market price is difficult to predict correctly. So that forex is high risk. By understanding the risks then we can manage risk well. One of them is to put SL on our account. Thus a greater risk we can minimal. Quote Link to comment Share on other sites More sharing options...
Decub Posted January 8, 2014 Share Posted January 8, 2014 That is the way the market is. It mustn't go according to your predictions all the time. There are times when you have to really find it rough in the market or even when there would be some fake break out. It is best for traders to always ensure they make use of the stop loss at all times. Quote Link to comment Share on other sites More sharing options...
uncle gober Posted January 9, 2014 Share Posted January 9, 2014 That is the way the market is. It mustn't go according to your predictions all the time. There are times when you have to really find it rough in the market or even when there would be some fake break out. It is best for traders to always ensure they make use of the stop loss at all times. as traders we must always use SL as part of a money management so that we can focus on trading that we do. mistake reading market movements are common in the forex business Quote Link to comment Share on other sites More sharing options...
standart Posted January 23, 2014 Share Posted January 23, 2014 there a time when traders unable to predict the market outcome accurately and they are open wrong positions. such case common to occur. however, good response to the mistakes help traders to loss minimize. if traders trade against the market, better close the positions hurry and open the new one which according to the trend. Quote Link to comment Share on other sites More sharing options...
Stekin Posted January 24, 2014 Share Posted January 24, 2014 The traders in here should try to use the stop loss to protect their account should the market move against their prediction. When we don't make good analysis, the market will not favor us and we will be increasing the risk of losing our trading capital. It is the stop loss that we set at that time that I'd going to protect our account. Quote Link to comment Share on other sites More sharing options...
Decub Posted August 8, 2014 Share Posted August 8, 2014 @gaban, you are right about that. Personally, I just got the wrong side of not making use of an SL. Well, it was something I will say I caused myself but I had to trade with increased risk. It's never rosy at all times and we can't also deny that there are times you just would risk it. Quote Link to comment Share on other sites More sharing options...
Stekin Posted August 8, 2014 Share Posted August 8, 2014 When the market is against your predictions, then that will mean that you made a wrong analysis of the market and the best thing for you to do is for you to try and close your position in other not to hit a margin call. But if you know that you can recover, then you keep on trading. Quote Link to comment Share on other sites More sharing options...
standart Posted August 9, 2014 Share Posted August 9, 2014 market can move against trader prediction. but when traders accept the loss and fact that they can't predict the outcome all the time, they are mature as a trader. they know the risk and create a strategy which enabling them to make the risk of loss remain minimize. Quote Link to comment Share on other sites More sharing options...
myregister Posted October 29, 2014 Share Posted October 29, 2014 market can move against trader prediction. but when traders accept the loss and fact that they can't predict the outcome all the time, they are mature as a trader. they know the risk and create a strategy which enabling them to make the risk of loss remain minimize. Market can move to anywhere they want, it is normal that many traders can loss their money if they don't aware of this thing. If the market is moving against your prediction just stop your trading, or if you already set SL before let it be. Sooner it will hit your SL and it is automatically closing your position. Quote Link to comment Share on other sites More sharing options...
Decub Posted July 6, 2015 Share Posted July 6, 2015 One can't always be 100% correct in a market where you can't even predict with certainty. Forex is an environment that is unpredictable and a trader can only save himself the act of losing or failing wolfly only when he is ready to learn well and take Forex as a business where even though he loses, it becomes part of what the business offers. Quote Link to comment Share on other sites More sharing options...
Upul Tharanga Posted July 7, 2015 Share Posted July 7, 2015 This has happened a lot with me, but I don’t think it’s something that I am worried about. It’s more about trading without money management that’s where you fear that one bad trade might kill all your efforts, so that’s why I have decided to work only with strict money management no matter what happens. I have incredible support with Nova FX broker using their 111% bonus on deposit, it’s a sensational amount to have to work with and really makes us trade easily! Quote Link to comment Share on other sites More sharing options...
Stekin Posted July 7, 2015 Share Posted July 7, 2015 You learn how to make a good prediction in the first place and if the market moves against your predictions, then there is nothing that you can-do. What you must try to do is to make sure that you are always making your analysis very well in other that you may be able to make a very good amount of money when the need for that arisesand if you can't, it doesn't mean that you have failed completely. Quote Link to comment Share on other sites More sharing options...
pepy Posted November 10, 2015 Share Posted November 10, 2015 If this is happening to you then you must have backup plan or plan B, or you can simply cut the loss directly if you think that is the best situation that you can do, if that's a trap wait for around 1-2 minutes if that is in very volatile condition. Moving against prediction is very bad situation for fx trader but we as trader must prepare for it. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 11, 2015 Share Posted November 11, 2015 Well i don't need something like that since usually my position will close itself, i already estimate the risk before trading and choose just not more than 4% of my total capital to trade, so i am willing to lose that much but of course with some analysis and prediction first. Market moves against my prediction happening more than once to me but that is seems normal as long as i outnumber it, i mean 1 wrong predictio vs 5 true predictions. Quote Link to comment Share on other sites More sharing options...
onyx Posted November 11, 2015 Share Posted November 11, 2015 Prediction does not means that we can predict right always. It is just an estimation about market next movement .It can be in our side or totally different as we think. That is why we need a risk management ability so that it can work in bad market situation as our prediction is wrong . Market moves against it we can manage trading with this skill. Quote Link to comment Share on other sites More sharing options...
gaban Posted November 12, 2015 Share Posted November 12, 2015 Prediction does not means that we can predict right always. It is just an estimation about market next movement .It can be in our side or totally different as we think. That is why we need a risk management ability so that it can work in bad market situation as our prediction is wrong . Market moves against it we can manage trading with this skill. Right! Risk management will help us to minimize the loss due to unpredictable market movement. And so, just less of traders who 100% predict the movement of the market... Quote Link to comment Share on other sites More sharing options...
Ronnie Irani Posted November 18, 2015 Share Posted November 18, 2015 We don't have to follow every prediction. Quote Link to comment Share on other sites More sharing options...
Upul Tharanga Posted November 18, 2015 Share Posted November 18, 2015 I think this is something that has to be fairly common, so we need nothing much to worry about; it’s all about managing things well because profits and losses will be there due to the unpredictable market. I am trading with strong money management thanks to Nova FX broker for their 133% bonus on deposit; it is really special figure to gain in order to succeed while they also provide daily market news and analysis, so all pretty good to use. Quote Link to comment Share on other sites More sharing options...
pepy Posted November 19, 2015 Share Posted November 19, 2015 This is what i really hate so much, especially when i think the price already move according to what i predicted and i get profit but suddenly the price turns back and in the end i lose. But i agree with upul here, we don't need to worry about it too much because sometimes shits happens and including this one too, a trader which i regards as my teacher said that as long as your risk management still fine you don't have to worry about something like this. Quote Link to comment Share on other sites More sharing options...
myregister Posted November 20, 2015 Share Posted November 20, 2015 @upul: If you make an accurate prediction they you don't have to worry about this issue, manage the things well and you will end profit, well when the price moves maybe that is just a reflection of the market and won't be long, this is why you should be careful with your SL, only applied it in the right time. Quote Link to comment Share on other sites More sharing options...
pepy Posted November 25, 2015 Share Posted November 25, 2015 When the market is move against your prediction, calm and then do hedging or if you are not sure with hedging make sure to open other position later that would reverse your current loss or just close the position and then call it for the day, waiting for other chance tomorrow or the other days. Quote Link to comment Share on other sites More sharing options...
Gee Dee Posted March 26, 2020 Share Posted March 26, 2020 With a 9 to 5 employment on your hands, it's anything but difficult to forget about significant data on markets and currencies for instance. Start by keeping a diary that notes all parts of your exchanges and therefore permits you to commit errors and gain from them, you will give yourself that additional level of security. You'll commit fewer errors, here's a helpful layout diary you can use to further your potential benefit. Quote Link to comment Share on other sites More sharing options...
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