Fill in the Blank: "When a Trade Goes Against Me, I ________."

Losses are a cost of business and like all businesses, one must try to reduce losses. When a trade goes against me I have the option of closing the entire position if confirmations are met or Close 50% of the trade.

Regards
CRXSSFX

That ■■■■ is rough I’m not gunna lie…you should learn from your losses

I cut loss as soon as possible and wait for another nice entry for another trade.
losses are part of the game

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That’s nice but can be risky too though

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I feel bad, but I am doing my best to remain calm!

I insult the person who introduced Forex to me…

I look at the lost, eyeball that against TP and then increase the position size, because I don’t know how to calculate position sizing

it is time to finish the education section :wink:

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I do nothing…

Isn’t trading nice but can be risky too though? :grinning_face_with_smiling_eyes:

When the trade goes half way to my stop loss, I get into another position in the same direction wuth the same TP and SL. The markets rarely go in a straight line and will usually retrace once or twice to a certain level. Rarely does that level coincide with my TP. My goal at that point it to try and break even on the 1st trade and make 5 pios on the 2nd trade. You just have to pay attention to what the market is giving you. Although it doesn’t work everytime, most of the time I can get out of the trade at breakeven or a very small loss. My TP is usually only around 10 pips, which is my goal for the day. My goal is 1% profit for the day and I don’t put on more than 2 sets of trades unless my 1st trade goes all the way to SL at which I am done trading for the day. I have made 10% in my practice account this month and plan to go live with a small account in May and see if I get the same results. Because of my schedule, I generally trade during periods of low market volatility. I do not use indicators. I just trade price action although sometimes I will through a fib on the chart.

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How long do you typically keep your trades open?

I just let it be. But I review what went wrong and try to learn from it.

Less than 30 minutes. Many times less than 15 minutes. Depends if I accurately predicted which way the market is headed, my trades are relatively of short duration. If the market goes in the opposite direction, those trades take longer to work themselves out if I decide to stay in them.

I agree that learning from losses is an important part of improving as a trader.
At the same time, it can be tough to deal with the disappointment and frustration that comes with losing trades