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

    1. #11
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      It is not good to pray after opening a wrong trade which is understood clearly. when we see such problem, be bold to close such trades first. we should accept losses and have mind like that. we should keep calm and patience, to find out trend continuation zones. we should analyze in detail before trading.


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    3. #12
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      I remember that some years ago this was my condition. I would be on the wrong trade and instead of leaving the trade I would start praying that it should go in my direction. but now that I have more experience, I will just close the trade and get out with a little loss. No need to pray it will not work.


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      Beginners most of the time or even veteran traders make a wrong trade once in a while, you click buy instead or sell and you hang on to such trade in hope of becoming winning trade but most of the time this kind of trade will become a loser, the best way to deal this situation is to close it right away be it winning or losing.


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      Praying only when you do the wrong thing does not make sense to me, because it seems that you purposely walked into the wrong market instead of waiting for right opportunity, prayer has to be a lifestyle,and not when you are in a bad situation before you remember it.


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      Praying is nothing when you are going against your trading rules and system no matter how much prayers you will be offering, whenever you find yourself hoping and praying then you are not acting in your own interest at all. You need to start doing thing the right ways and let the market work it out for you.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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      That is why i suggest always open trade making analysis. Analysis the market and depending on analysis open the trade. If you trade this way then you won't have pray to almighty. Almighty can't save you if you do not trade properly.


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      Trading does not have to be something we do out of fear, it must be carefully planned and executed, praying after you have entered the wrong trade happen when we have recklessly pulled the trigger, be relaxed, watch trend and determine your optimum entry, no need to be tensed.
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    9. #18
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      Quote Originally Posted by adewale View Post
      Trading does not have to be something we do out of fear, it must be carefully planned and executed, praying after you have entered the wrong trade happen when we have recklessly pulled the trigger, be relaxed, watch trend and determine your optimum entry, no need to be tensed.
      Fear comes into a trader simply when he fails to either have a good well spelt out trading plan or he has it but lack the discipline to always follow his plan. If at all a trader make any mistake of entering a wrong trade the best thing to do is to stop the trade so as to minimize the loss, then is subsequent profitable trades he will recover the loss.


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      There are many traders who do like that they do pray after they have opened order , this is usually happen to new babies in forex and it is a bad thing . A trader must do his analysis very and have a good plan before he open his trade and this plan include '; method of his trading either longterm or short term also the stop loss to use with the lot size. If all these things are known there alnbw problem when the order are place


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    12. #20
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      it is a funny question that people start praying all the time they start the wrong trade. but it is natural that religion people start praying every time they do any work and i am in its favor. but some people start trade knowing that it will go on wrong side. just trying to see their luck that its good or not.


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