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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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    3. #31
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      There are many traders like you in the forex market, and obviously almost every trader passes through this particular situation, the point at which we will be thinking about quitting, but honestly giving up shouldn't be an option at all.
      All we really have to do is make sure we look for whatever it's that makes you too loose, you may think that you have tried everything possible, but believe me, you definitely are doing something wrong or it's that you lack forex knowledge
      How to turn this around

      1. Go back to drawing board : sometimes it could be that our own the market is what's affecting our trading decisions, do we have to make a new plan

      2. Try to learn again by going back to demo account : honestly this way we can easily spot whatever is making us to loose, demo trading is very much powerful, we can even develop a new trading strategy while learning


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    5. #32
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      The bottom line in forex trading is the understanding and the application of the knowledge of technical analysis, fundamental analysis and the psychology of trading. With these a good trader should be able to develop his or her own personal working strategy that must have stood the test of time by producing profits on consistent basis for the period of about six months.
      If these had been done and you are still losing then I will advice that you go back to the drawing board by starting all these afresh and make sure that you keep a trading journal with which you will be able to do a thorough evaluation of all your trading activities. Then you need discipline and self control to hold on to what is written in the journal which with these there would be an improvement in your trading.


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    7. #33
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      I don't think that trying every thing is a pragmatic way to search for success in this business. First of all we need to accept that the losing is part of the business and in every trade there is a possibility of losing so we can't deny this fact. Another thing is that if we frequently change our strategies and approach to the market then it won't help us because we need to test a strategy for enough time and give it enough breathing space and only then we can make conclusion. On the other hand if we try one strategy for one month and switch to another and continue this process then it won't bring us any good.

      Sometimes we don't need to try desperately we need to act smartly and only this way will be able to take decisions which makes sense. To become successful in trading we need to think smart and act smart and the theory of the market won't teach you how to trade and make profit you have to practice it and that's way you will find your own strategy and trading plan which will best fit you.

      Chasing success like others will only disappoint you and you have to remember not every traders situation is same. Someone is trading with a million dollar and some trader trading with couple of hundred dollars.
      Yesterday's wins and losses are yesterday's wins and losses -- and the yesterdays are gone


    8. #34
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      Default Re: I did everything but still lose money. How to turn this situation around?

      Quote Originally Posted by Beautiful Quynh View Post
      I did everything but still lose money. How to turn this situation around?
      It's really frustrated situation. Confidence will turn into negative points in that time. Everything will move against trading strategy. It's better to take a break from trading. Then have to focus on demo account. After getting some consecutive success in demo account, your confident will grow up gradually. You can't get your lost confidence so easily. You have to struggle hard to get this lost confidence. If you open trade continuously after getting consecutive losses then the ultimate result will be worst. Because emotion has no place in trading. Market always moves according to it's own direction. It won't respect your emotion. So it's better to wait for the perfect timing for re-entering in the market.


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    10. #35
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      Default Re: I did everything but still lose money. How to turn this situation around?

      It is true that a trader may employ all he/she know about forex and still loosing money. In this situation it will look as if the business is not real. It is but there are many things the trader has not done which he/she should find out and do it. One of these things is much experience , this factor help trader to handle difficult and normal situations in this market. If the trader is able to recognize what he/she has seen before ,he/she can know what to do or where to place order. That is why it takes time to understand this market and make money out of it.Second thing is emotion , this is a big problem in this market, trade who does not take time and analysis market always loose money. This market is traded base on facts not on feeling.Thing is money management, this call for discipline, lack of it land traders to losses.


    11. #36
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      Default Re: I did everything but still lose money. How to turn this situation around?

      Losing is not what is uncommon among forex traders, but when it is becoming repeated, then it becomes a problem for the trader. The traders that are in the category of repeated losses should try to stop trading for a while, but take on a training class, and also evaluate themselves according. The traders in this category can try the following to solve their problem;
      1. The trader should start afresh a serious learning with the demo in order to choose a dependable strategy
      2. The traders should try a trend trading style.
      3. The trader should use quality money and risk management
      4. The trader should invest the affordable capital in order to avoid emotion
      5. The trader should be optimistic, disciplined, patient and have a working plan
      6. The trader should always keep a trading journal for consistent self and trading review and evaluation.


    12. #37
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      Default Re: I did everything but still lose money. How to turn this situation around?

      If you do everything in forex trading and yet you are still losing money, this simply means that there is still something that you are not doing right, there is one particular thing you need to change, it might seems good to you but in the forex market it is bad, so you have to change it. Either your approach to the market is bad or maybe your trading strategy is the main problem, because if you can control your emotions, follow a good money management, keep self discipline and still yet you are losing money, then it means your trading strategy is bad and it needs changing.

      So therefore you can go for a new trading strategy, develop a new trading strategy or better still go for an already made strategy and practice how to use it, and when you become good in it, then combine it to other of your good trading characteristics and you would definitely see the changes.

      If you are are doing everything right in forex and still loses money, it simply means that you need to change your trading strategy, the strategy you use in analysing the market, that gives you the signal to either buy or sell a particular currency pair or commodity in the market. That's what you need to do, so as to get good result and stop losing your money.


    13. #38
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      Yes the forex market can be like this sometimes, there will be times where we will perform every trading analysis there is the fundamental, the technical and the sentimental analysis and still find ourselves loosing the trade.
      There is nothing we can do more than this as a trader, there is no person that has power over the market and this is exactly what makes Trading more interesting compare to other investment.
      We trade to either loose or gain and if we wanna be in the winning side we have to perform the analysis but this doesn't always guarantee profit.

      Well if we find ourselves in this situation I think the best thing to do is never give up and keep doing the right thing, as there are winning streak there are also loosing streak.


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    15. #39
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      I did everything but still lose money. How to turn this situation around ?This implies that ,all you claim to do never address the causes of your loss .When you found yourself in situation like this ,the first step to take is to identify the causes of your losses .An identified problem is half solved ,so they say .One by one ,start addressing your problems .In reality ,you can not continue to trade the same way and expect different result .The three most important aspect of Forex market should be clearly understood and for you to minimize losses in your trade deals ,you must apply them correctly.. [a] The technical analysis [b] Fundamental analysis [c] Psychological aspect which has to do with your very self. [Your discipline] . The first two has to do with your knowledge of Forex market and your preparedness for incoming news that may affect those currency pairs you are trading. Whenever you are buying and the market is selling ,this implies that ,you trend identification is faulty .If the use of high lot is your problem ,then ,your risk and money management is inadequate couple with the fact that your greedy nature should be put under control . By the time you do the needful ,your losses should be under control.


    16. #40
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      Default

      well, the truth is that this trader has not done everything that should be done. he might think he did, but checking back he could discover there are areas he needs to visit and work on. some of those areas include the following:
      1. have a good trading plan: the trader should make trading plans and follow the plans. having a trading plan without applying same is of no use.
      2. greed should not be allowed to set in, hence the use of good money management. risking 1% to 2% is the ideal standard.
      3. use stop loss and take profit tools: these options are useful as they help book profits and exit losers.
      4. patience: a trader has to be patient and wait for good trade opportunities before opening trades.
      5. allow minimal orders: too many trades opened at the same time is difficult to control. minimal orders should be made.
      ''Too many times we settle into a set way of thinking and accept limitations that need not be placed on us'' -John C. Maxwell

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