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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. #21
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      No matter how many times a Forex Newbie might have lost in Forex, I do not think it is a reason for them to quit trading completely. There is always something or a set of things that such a trader is not getting right that is causing their losses directly or indirectly. The Forex business is not a short term business to make long term profits from, One must be prepared to bleed and sacrifice their time to keep trying.

      As you keep trying, You will steadily keep improving until you arrive.


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    6. #22
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      Max traders go through the similar phase in their trading career and for that inspite of having the proper experience and skill ,they used to lose money in a regular manner .Though it happens that the starting phase is good but after that they just goes offtrack and ends up empty handed .Its mainly due to the lack of patience and concentration because it may happen that the confidence factor can be dominant and one can make somesilly mistakes .So always traders should try to maintain their winning strategy .

      Some points the traders should always watch and those are :-

      Watch the void space in trading :- When we can realize that in which portion we are weak ,we can repair that and our future trading can be cemented so that we can be in a winning position one day .

      Maintain the confidence :- Traders should have the proper control over the confidence and should not fall prey to the over confidence so that they can always know that how their trading can be benefited with the profit .

      Checking of performance time to time :- One should check their trading performance time to time because the graph should go up so that one can get the real joy of achievement and that indicates that they are one step ahead of the race from others.

      We should remember the success is not a one day job and for that we should avoid taking too much risk and should have a proper maintance of the stragey with perfection ,after that we can see that its very easy to handle the situation .Always be positive and avoid panicking in small matters to trade with real money .


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    8. #23
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      There are many reasons for one to lose money. Depending on the reasons, I could give different advice:

      Emotions: Most of the traders are usually making loss because they are not able to control their emotions. They might have learned many things or have a lot of experience, but they are still not able to control their emotions when they trade. It could happen because they have a lot of financial needs or become greedy when they think of the profits they could make if they just take a higher risk. For this, I will advise the trader to use stop loss and fixed lot size for about 3 months. They could then check the results themselves.

      Mixed knowledge: Many traders are still losing because they trade with lot of different methods or use a mixture of different knowledge. You might think it is a good idea to learn all the articles there is to about Forex trading or learn every strategies, but it doesn't usually work that way. A set trading strategy is usually complete on its own. You might find a flaw on it that could be complemented by another trading strategy, but that will just mix up the strategies and you will have more flaws instead of more profits.

      Experience: In the end, experience is still the most important. You need to keep on practicing regularly, observe charts regularly to turn your knowledge into experience. I know of traders who think they know everything but still manage to lose. That is because they don't have enough experience. They need to know their own mistakes and their strengths. This takes time but it will be fruitful.

      There are many other reasons too, but almost everything can be solved with regular practice and disciplined trading.


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    10. #24
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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!
      If someone I know says me that did everything with his/her trading strategy and still losing money I will ask all the details about such trading strategy used by that trader to find out where the trader failed. Its important to recognize that there is no perfect trading strategy but trader can use a profitable strategy on long term if trader is responsible and use very well money management rules. Trader should be realistic and be prepared to lose 1 or 2 trades in 10 executed ones which will not cause any losses on long term but one or two negative days can happen so trader should be prepared to face it and recover on future. The biggest issue for many new traders is to recover from first losses and that's somehing that trader need to experience and do it on long term. Trading its not anything like become rich in few days and to generate a good ammount of profit like +200% takes some time if you do it with a responsive risk management strategy.
      “Know when you’re getting out before you get in.” Jack Schwager


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    11. #25
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      My brother you should not be discouraged in your career about this business,those who had made it today in forex trading today had passed through similar experience that you are talking about.What you just need is that you should fix the area of weakness like money management principle,emotional control and other stuffs to help your trading performance.


    12. #26
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      Quote Originally Posted by Beautiful Quynh View Post

      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!
      The first thing to do is to do trading and close all pending positions. Next, we'll review the trading history and the strategies employed seeking to know if there's a pattern that can point to the cause. Having reviewed the charts, I'll advise that person to take a break from trading and review the strategies and update knowledge on trading be reading charts of successful traders to see what they're doing right that your friend isn't.
      A refresher on the basics of forex trading wouldn't but be out of place. Taking a break from trading can actually help the trader reboot and refreshed enough to keep the trade going and profits rolling in.


    13. #27
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      Thread closed as the contest has ended..


    14. #28
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      The question is already fully explored with many answer.

      Please make sure you read the answers above this post and DO NOT POST ANY ANSWER if your answer contain the same or similar answer with any of the above answers. If you do then it will be deleted.


    15. #29
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      Take time to rest immediately.
      Rest does not mean to stop completely, you will later be able to think more clearly about the best steps to overcome your open position that is losing money. This method is simple but often ignored by traders.

      Identify the factors that cause successive losses.
      Consecutive losses can be caused by various factors such as a stressed mind, euphoria or excessive pleasure, or routine habits change due to changing and not adapted environmental conditions. Such mental pressure usually causes you to over-trade.

      Study trading journals in the period of the loss.
      After you know the causes of the factors outside the trading system that you use, the next step is to review the implementation of the trading plan that you have agreed on.


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      The truth of the matter is that you are not alone in this kind of feelings, because we all have experienced such times when things are not going the way we feel that it should go but the ultimate is to make sure that you begin afresh with a demo trading account and start learning from your mistakes. Also, start developing new trading strategy or look at the days when you were making it then see what you are doing differently and start doing it on a consistent basis using your demo account and whenever you becomes constant with profits then you can switch on to the real trading account.

      You can equally begin learning from others who have become constant with their means of trading the forex market and are making consistent money off the business that is learning from their ways of trading and following their footsteps too.
      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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