What's your plan in tough situations?

[Anne Morris]

Trading when things are easy is not big deal, but planning for tough situation is the most important part, as that’s how we are able to perform well and achieve better results. I am very fortunate that I am with OctaFX broker under whom I can really do well in tough situations. I feel great with the monstrous deposit bonus up to 50% that’s usable while there is also 24/5 support available that really helps us big time and keeps it all good!

[radex78]

In trading we need to trade based on risk management and money management, and also need plan trading to manage our money on account trading, becuase actualy we never know whether our analysis will accurate or will get mistake and causing loss, will harmful when trading without risk management and the trend against our order it could making margin call account

[myregister]

In tough situation i think i would focusing myself on money management, it is important to reduce the risk overall especially when i lose my money. If you are in abundant state where you have a lot of money then you still able to apply money management in less manner, in tough situations you also can reduce the amount of lot size you want to use.

[pepy]

In tough situation i think i would focusing myself on money management, it is important to reduce the risk overall especially when i lose my money. If you are in abundant state where you have a lot of money then you still able to apply money management in less manner, in tough situations you also can reduce the amount of lot size you want to use.

It seems i would do the same especially if that is my mistake where i ended up losing my money and in the tough conditions. Survivability is the most important one. By spend smaller lot size i still have chance to make profit but at the same time lowering the loss, i prefer to earn less and gain less risk rather than bigger risk for bigger profits.

[myregister]

It seems i would do the same especially if that is my mistake where i ended up losing my money and in the tough conditions. Survivability is the most important one. By spend smaller lot size i still have chance to make profit but at the same time lowering the loss, i prefer to earn less and gain less risk rather than bigger risk for bigger profits.

Sure everyone will do the same for the sake of survivability, it is better to lower the risk and wait for the right time to raise your lot size. If you for example suffer huge amount of lose you can set lower lot size so you can recover bit by bit before start to trade with bigger lot size.

[pepy]

Sure everyone will do the same for the sake of survivability, it is better to lower the risk and wait for the right time to raise your lot size. If you for example suffer huge amount of lose you can set lower lot size so you can recover bit by bit before start to trade with bigger lot size.

That is a good example and i will do the same for the time being. Tough situations will train us indirectly how we react to the market and how to stay survive. You can see this phase as the phase where we will learn about how to deal with the foreign exchange worst situation where everything seems messed up. If we have a good management we can stay survive and even recover from this tough situation.

[Sininfinity]

Trading when things are easy is not big deal, but planning for tough situation is the most important part, as that’s how we are able to perform well and achieve better results.

 

Right. The whole process takes time to master. This is not something one can learn from someone else. The trader has to find a process for himself and that may require via trial and error.

[myregister]

That is a good example and i will do the same for the time being. Tough situations will train us indirectly how we react to the market and how to stay survive. You can see this phase as the phase where we will learn about how to deal with the foreign exchange worst situation where everything seems messed up. If we have a good management we can stay survive and even recover from this tough situation.

Yes, in any kind of tough situation an extreme precaution must be taken. The very strict risk management is one of the solution from a lot of ways to stay survive in tough situations. From my POV, somebody need time to master or know very well their own risk management system, but that is quite normal for majority traders.

[pepy]

Yes, in any kind of tough situation an extreme precaution must be taken. The very strict risk management is one of the solution from a lot of ways to stay survive in tough situations. From my POV, somebody need time to master or know very well their own risk management system, but that is quite normal for majority traders.

It need some time as long as we able to master it everything should be pretty much fine for a while. I think adaptation is the best answer for this. We could be tough as the situation is getting tough like, only spend smaller lot size after 5 consecutive losses or maybe just trying to target the small pips while our main strategy is a long term strategy with bigger pips target.

[arjumand]

I think we should only focus on making small profits which should be on consistent basis, i usually am a conservative type and never trades more when my trades went bad or during the high volatile markets.

[myregister]

That is your option arjumand, nothing wrong with that approach but I want to know that in the tough situation what would you do? For example, you lose consecutively for 4 rows and your capital diminished a lot? The strict approach for this condition needed. For me, I will be strict with my money management, and only open one position per trading also with smaller lot for loss resistance.

[pepy]

That is your option arjumand, nothing wrong with that approach but I want to know that in the tough situation what would you do? For example, you lose consecutively for 4 rows and your capital diminished a lot? The strict approach for this condition needed. For me, I will be strict with my money management, and only open one position per trading also with smaller lot for loss resistance.

The best approach is just like what you said above strict of using the lot size or you strict yourself with the target you want to achieve, in this case, i am talking about the pips you want to achieve. It is just to control the risk, since we also need to think of the worst of our action and its consequences.

[myregister]

The best approach is just like what you said above strict of using the lot size or you strict yourself with the target you want to achieve, in this case, i am talking about the pips you want to achieve. It is just to control the risk, since we also need to think of the worst of our action and its consequences.

Well, what i said is actually just for temporary, and it is better to build a better trading so you can out from this situation forever if possible. All those for the sake of controlling more losses while focusing ourselves on the most important part after the big loss or in a tough situation which is recovery.

[uncle gober]

Very well, because in addition to be able to generate profits, traders must also be able to minimize the risk that there is better. Therefore traders should be biased to maximize more to be able to manage funds and risks that exist in the trading system

[Sininfinity]

The best approach is just like what you said above strict of using the lot size or you strict yourself with the target you want to achieve, in this case, i am talking about the pips you want to achieve. It is just to control the risk, since we also need to think of the worst of our action and its consequences.

 

In context of pips target, it is a good idea to set a target for profit where price can easily reach and set stop where price might have difficulty to reach. That can increase the chance of a profitable trade.

[anna.serea]

I set my daily pips target (profit) and my daily loss target. When one of them achieved i will stop my daily trade and continue my life.

[Gee Dee]

Forex is a highly competitive market place where a foreign currency exchange trade can face serious issues. A trader should develop the right trading attitude to deal with the uncertain situations as well as with the upcoming hard situations. It is not an easy matter of course. A forex trader will need to adopt a proper trading method along with proper money management process so that he can at least ensure the achievement of trading goals.