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    Thread: I did everything but still lose money. How to turn this situation around?

    1. #1
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      Default I did everything but still lose money. How to turn this situation around?

      Some times traders already do everything according to the trading strategy but still lose money and of course everyone in this situation is desperate to turn things around. The question is they don't know how.

      If you are asked this question by someone you know or someone close to you what will you advise him or what you make him do to improve the situation or possibly even make him into a profitable trader. Remember, this is someone you know so you have to make sure you will give him the best advise.

      Ok, let's start the read the best answers from you!



      Note: The question is already fully explored with many answer.
      http://forum.mt5.com/showthread.php?...1#post12757430
      Last edited by PhantomTrader79; 05-13-2018 at 07:30 AM.
      Traders don't know the future that is why traders need market scenarios.


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      I will tell my friends that losing money is part of forex trading. The only thing he or she needs to do is trade with low risk all the time and try to make more profits than loses. The best way to earn more than losses is to sit tight and wait for the best set up to appear in your chart. No need to chase fading trend and as much as possible do not enter in trend too early or else their stop loss get taken out prematurely. Keep studying and observing the market condition and behavior of your favorite pair, once you understand the pair you can earn more profits from it with less lose.
      No Guts No Glory!


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      I think if you can achieve proper knowledge, demo practice, achieve good experience, good skills, proper analysis, follow good money management, follow risk management, control emotions, avoid greed, patience, discipline and properly follow all Forex rules before open position in Forex then you may success and you can protect your account other wise you face loss one after another time. Wish you best of luck. Thank you.


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      Quote Originally Posted by Beautiful Quynh View Post
      Some times traders already do everything according to the trading strategy but still lose money and of course everyone in this situation is desperate to turn things around. The question is they don't know how.

      If you are asked this question by someone you know or someone close to you what will you advise him or what you make him do to improve the situation or possibly even make him into a profitable trader. Remember, this is someone you know so you have to make sure you will give him the best advise.

      Ok, let's start the read the best answers from you!
      I know already that it is a very precarious situation to fall into, It is very bad that a trader keeps loosing. I advise that you keep learning and practicing in the Demo account, There is no other way. A Loser in Forex is supposed to relax because we are all losers at the very beginning in Forex and so no one should discriminate others.


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      Losing money in forex business or any other business not surprising happened, but rapidly loss is painful and unacceptable. I think two treatments are enough to reduce your loss one is money management and another a good analysis. But if you have no determination or great patience and self confidence, then you cannot abide by those principles. So you have must strictly follow those points, then meet with profit.


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      The first step is to make sure to know the character or style of trading from him.
      We must do this to make it easier to analyze how he trades. Let him trade in his own way because it will make him feel good. We must give good guidance when he makes a mistakes. We have to monitor it well, this will be able to affect the results of its trade.
      We must analyze his trading history. We will more easily analyze the location of the mistakes he made. Try to give a simple explanation to keep him comfortable and understand well the explanation that you has explain to him.

      The second step is give him good solution.
      Try to give the best solution as remember that he is your friend, you need to extra carefully to guide him in this step. So, it is possible the results is that he will not repeated the mistake he do in the past. In this session, you also need to give him the spirit. All of us as a traders desperately need the spirit to not give up and try to get back from the downturn after faced margin called moreover if your friend repeatedly losses of course we need extra hard working and spend more time to guide him.

      The third step is to get his trust back.
      If necessary give him a word of wisdom, for example:
      Losing it in the forex business is a natural thing because every human will face loss.
      We can only try to minimize the risk of loss with the trading ability we already have.
      No one trader is able to predict a market movements with 100% always right, only GOD can do that.
      If you meet a trader claim that his analysis or prediction 100% always right or even claim strategy without loss, you can wake him from his sleep or send him to psychiatric hospital is the best way.

      Give him the best help of what you have, as if you have a good technique that analyzes from the news release you can share it to him.
      Offer him about your trading strategy, even more if you can trade together with him it's will be more helpfully, i'm sure with these way he can increase the trading skills so easily and faster. Overall to be able to guide your friends into better traders, at least you need time for it, you must understand it and must be patient too see him growth up.
      In other conditions, if he have no more money to invest then you can invite him to MT5 Forum. He can also back to learn and practice in demo accounts more than it he can have bonuses to start trading in real market.

      This is my best perspective and step to help my friends and family who are interested in joining forex business.
      If you have other views, agree or not, it is your own decision and no one has the right to stop what you do as that decision you made is best for yourselves.


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    13. #7
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      To become successful in forex trading profession requires a lot of proper learning and experience. One of the most common reason a trader often lose money in the forex market is the lack of proper trading strategy. In other hand if a trader is very new to the forex trading field then he/she must spend more time in demo practice. A trader must try to understand that we canít earn money from forex market at the very beginning. So here I would like to suggest anybody who is also known to me that at first he/she spends more time in learning and do a lot of practice after that try to involve in real trading. We often hear about that new traders often get margin call, in my view they do not use stop loss and they try to use big lot size orders into their trading orders. They try to gamble their money without proper analysis. Sometimes a trader try to give more importance in technical analysis and ignore fundamentals. So it is very important for a trader to get updated with fundamental or economic releases too. One most important reason for the failure is the lack of experience.

      My first step would be to know the actual reason for the failure.

      Before giving any proper suggestion I would like to see what are the reasons behind any failure. I'll try to sit with the person and ask questions related to his/her trading system. I'll go into the depth of his/her trading performances. I'll try to see if he/she is doing any risky trades. Or at what time he/she is doing trades. In which pair he/she is trading and why he/she is trading in that particular pair. I'll also try to know how he/she desire or take decisions for trading. Whether it is based on certain strategy, based on news or based on technical levels. So it may take some more time to find out the actual reason and only then I'll able to suggest him/her a proper solution.

      Few common reasons for which a new trader always lose money:
      1. Lack of proper guidance: Most of the time a trader can't go into the right direction at the very beginning. This happens because he/she can't get proper guidance from anybody who is good at trading. So due to lack of proper guidance he/she can't able to do well in the profession.
      2. Lack of proper strategy: If a trader is new then it is very important for her/him that he/she should adopt any good strategy. The best way is to follow any good trader who can guide him/her to trade properly. Or a trader can join any good forum where he/she can learn from other good traders.
      3. Do not want to learn: Most of the new traders do not like to learn at the beginning. They want instant result from the market i.e. they want profit as soon as possible. But they forget that without proper understanding and proper learning they canít able to do well in forex trading profession. I would like to suggest such traders to spend more time in acquiring proper knowledge through different sources.
      4. Always Ignore fundamentals: Most of the time market moves sharply due to strong fundamental releases. If somebody ignores the fundamental and do not trade according to it then he/she may fail to make any decent profit from his/her trades.
      5. Opt For High risk trading: We often hear that new traders get margin call quickly. One of the most common reason is that they use high lot size orders. So here a trader must be careful not to trade with high lot size orders. I would suggest him/her to trade with care without taking high risk into the market. This is a common problem, here greed is also one reason so a trader must try to avoid greed in his/her trades.
      6. Over trading: A new trader try to trade all the time. But here we should avoid trading all the time. Only in certain time we can get good signals and good movements. If we do not control the frequency of trading then weíll fail at the end. I would suggest him/her to avoid over trading so that he/she canít get stuck in floating losses.
      7. Do not practice before real trading: A new trader always try to trade in real trading without doing any prior practice. A trader must spend more time in demo practice. Without practice a trader canít learn or do not able to understand how to deal with trading orders. Once a trader involve more in demo practice he/she would able to handle real trading too without any difficulty.
      8. Lack of proper money management: A trader often loses money because he/she do not apply proper money management to his/her trading system. A trader must calculate the risk and reward ratio prior to opening any order. It is also important for a trader to use proper Stop loss and take profit into his/her trading orders. If a trader adopt proper money management to his/her trading then itíll be easy for him/her to control the risk and able to survive in any market condition.
      9. Lack of patience: Most of the traders often try to trade in any market condition. Also they do not try to wait for the proper signal to arrive and open orders before getting any good confirmation. As a result they donít able to get the desired result. Most of the time traders try to close orders in small profit. They do not like to wait for more time. They want to close the deal as soon as possible. In such situation a trader canít able to turn good trades into big profit. Their losing amount is often more than winning amount.
      10. Canít control emotions: If a trader do not able to control the emotions then they will never able to do well into their trading. Suppose a trader lose money then it is possible that he/she would get discouraged easily. He/she may not able to find ways to improve his/her trading because of the failure. The trader find it difficult to control emotions and always fear to trade. So here fear of loss is another emotion which restrict a trader to perform well into their trading activities.
      11. No alternative source of income: Too much dependent on forex trading profession at the very beginning is not a good idea. Most of the trader joins the profession because they do not have proper source of income. They have family pressure and other burdens as a result they trade in a hope that they can solve all financial problems from doing forex trading. It is good idea for a trader to opt forex trading as a source of income but at the beginning we shouldnít expect good profit. If we trade with pressure then ultimately we wonít able to succeed in the profession. A person must try to spend more time in learning and try to earn later, only then he/she will able to do well in the profession.

      Conclusion:

      We canít suggest anything at once to anybody who is not able to do well in his/her trading. He/she may be good at trading but due to some minor mistakes he/she is not able to do well in his trading. So my suggestion would be to trade in demo account to find out the lacks. And also to gain some experience and confidence. Once he/she gains enough confidence and able to improve his/her trading then definitely he/she can go for real trading. But here I would like to suggest him/her to trade with low lot size orders and with proper SL and TP. If a trader try to trade with low risk then he/she would able to wait for more time to get the desired profit. Also there would be no fear of loss by opting low risk trades. It is also possible that a trader totally ignoring the fundamental side during trading which I've already mentioned above, in such situation market can give surprises. So it is very important for a trader to look at fundamental releases before opening any order. I would suggest the trader to avoid trading during high impact news releases. I've just tried to elaborate things which could be major reasons for the failure. But we canít come to any final conclusion why a particular trader is losing money in his/her trades. Only after extensive review of the particular traders past performances we can give proper suggestions. Everybody do mistakes but those who can find out his/her own mistakes can definitely able to do well at the end. Nothing comes easily we've to work hard only then we'll able to succeed in the forex trading profession.


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    15. #8
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      Make notes for all transactions you make. This is an effective way to help you evaluate any profits or losses you experience.

      Indeed every transaction that you do will be recorded by itself in Account History, but it's good you also take notes especially when experiencing losses about - for example - how the current market conditions, whether you are in an emotional condition, and so forth. In essence, identify what mistakes you might have made at the time.

      Traders tend to repeat the same mistakes. By creating a trading journal, you will be able to minimize the possibility of making the same mistakes over and over again.


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    17. #9
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      Lets make it simple..

      First you must have to get out of fear in your mind otherwise it is difficult to trade in the forex market.

      Most of the time traders have mentality that they just have to make profit from each of their trades which is responsible for the loss. Such strategy may suitable for few traders only so you must have to test yourself on the demo trading account first and how your strategy goes after that you can play it on the real account.

      You must have to withdraw some of the profit from time to time. Do not compound always as it will increase your greed and you will take wrong step and lose whatever you have.

      Money management and proper analysis is very much important if you really want to gain good income from your trades. There is something deficient in your strategy thats why you are getting loss from your trading. So Sit and find out the mistakes which you have made in the past or repeated the same due to which you have got the loss, try to avoid such mistakes from time to time then your trading performance will increase. It is not a single day upgradation in your strategy, you have to follow it in your day to day practice then only you will gain more income than the loss that you are getting.

      Just try it!! And tell me that your trading performance is improving or not? I will be happy if you gain good income by making necessary changes in your trading strategy.


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    19. #10
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      I have this feeling many many times over the past 6 years. I say to myself, but I have done everything and I still ended up losing money. HOW?

      But with the years I have gained more and more experience and knowledge in this business and if I am honest to myself, then its clear I didnt do everything I could.
      My main reasons why I lost money yet thought I did everything, the truth was:

      I didnt follow the plan
      I was greedy, opened large lot size trades
      Opened way too many trades, the same greed
      Didnt set the trades to break even and let the winners turn into losers!


      Whenever you feel youve done everything you could, come back to this list and be honest, check all the comments and check mark each of them that you followed. Trust me, you will see that there was one of them that you didnt do properly and that tiny mistake, that tiny error cost you a lot of money. So keep this in mind, do better next time, follow all the rules and dont risk everything and trade safely. That will bring you a lot of money over the years!


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