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    Thread: You start praying when you have opened a wrong trade (part 3)

    1. #1
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      Default You start praying when you have opened a wrong trade (part 3)

      I like to be very professional in the market trading, and i am doing my best to get things done in the very way that will help me. With this, i am sure to know trading and follow my real ways of trading. I pray in the morning and night, but to pray again when traders open trade is no more necessary in forex business.


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      Praying is good on your belief but prayers tends to work out well in a better action. You don't go about hurting yourself and praying you get healed instantly. What is expected of a trader who opened a wrong trade to immediately close it so they can retrace their mistakes and make a perfect trading that will help them.


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      I do not think that we should keep continue to leave the trading positions which was opened wrongly. We should close the it as soon as possible to stay away all the confusions. I try to close the wrong trade quickly after I see that is entered wrongly. I think we should not just wait for the prayer and see if that can give us some profits, small mistake can destroy the whole account.


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      Well most newbies may resort to this activity, they try to hold on to wrong trade and hope it becomes profitable before they close it, this is happening if you refuse to accept a loss, but the logical approach is that when you have a wrong trade you must close it right away to avoid bigger losses.


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      Well if we open a wrong trade by mistake then I do not think that it's a wise decision to just start praying, it would be much better if you just close that trade and open a right one. If you let that trade to run then it would be just like growing your mistake. If I was at that place then I will just close that trade as soon as I realize that the trade is wrong.


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      no any thing can help us in this market because tis market is very risky and the lonely thing that can help us in it is the trading with low risk and stop loss because stop loss is the important thing that always stop our loss while our trading then we can compensate our loss easily without any problem but i see that forex is world wide business and we have to follow its rules to avoid the big loss


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      Yes in fact it is a wrong thing because the prayer will not help you because the foreex market is working on its on and you have to just follow the footsteps of successful traders. Once you have opened a wrong trade then you should only close it rather than doing other things which will increase your losses and anything that can be done in this regard is before opening the trade you can put in good analysis


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      After opening a wrong trade and good movement we see big loss quickly and we have nothing to do except praying.But our wrong decision lead us to bad situation.For this we need to open a trad after thinking deeply.Yesterday before the NFP many traders though that NFP result would come bad,but we saw good NFp news which moved the GBP/usd pair down.


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      Yes it happens with me and after opening a wrong trade I start prying but I think with prayers there is a need of good money and risk management and getting a lot of knowledge for earning profit. I think a trader must pray from Allah Almighty and must trade positively.


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      Praying is necessary in your good and healthy life. But praying is not working in your trading because trading is a game of mathematics and numbers. If you take the wrong decision you will bear the high loss and good decision gives you best reward. So keep on practice and learning about forex trading. Do not rely on prays during your trades.


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      sasaran1 (03-26-2018)

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