How turn your losses into profit!

Hi Evelyn, such true words! Could you perhaps elaborate on what exactly is meant by “Track every play”? Should you sit and watch your trade all day long?

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Track every play stands for “mark your mistakes in trade and never do it again”…

Any mistake and loss teach us something, the main thing is to make conclusions and not repeat such mistakes. So, any losses will turn to profit.

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You can relate to losses ironically. Together with financial losses, you’ll gain some experience.

@GLTrader

hell no
Track every play means monitor each trade

Monitor does not mean sit there and watch them, although it could mean that

What i do is… I VIDEO SCREEN RECORD THEM,
then you can go back and watch them as you see fit

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As a beginner I always fallen a great loss when I try to it recover. And sometimes I tried to take revenge after having some losses from here and become loser completely. Actually losses can make us emotional and that’s why we have to more discipline when making a loss.

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When we are in trading profession keep safe your emotion’s for personal life or apart from trading.

Very good point but its difficult to remove emotions when trading practically, generally by and large traders in particularly the newcomers cant remove emotions with personal issues when trading in live. As a result they become loser.

@Wara_arif

mate, don’t confuse NEWBIE TRADERS with people who can’t control their emotions.
Being new to forex does not mean you can’t control your emotions

Emotional trading comes from a fact of … THE PERSON IS EMOTIONALLY CONNECTED TO THE MONEY THEY HAVE EARNED
you can be new or experienced in forex, if you have that emotional connection you are bound to lose
in saying that
you can be new to forex or experienced and have no emotions

as a fact, i entered forex years ago… WITH NO EMOTIONS
Reason… Because i practiced controlling them from when i was 16.

and even though it is DIFFICULT to master this skill. WITH PRACTICE IT CAN CERTAINLY BE DONE, not impossible at all

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2 posts were merged into an existing topic: RULES + Welcome to the Introduce Yourself forum

Ok got it, thanks)) I’ve already copied this information to my desktop)) thanks a lot :slight_smile:

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Yes emotional control possible after some experience. newbies are not aware of it so they do not know when they occur , they can not control it. When we know the right ways and money management with risk management is important then they try consciously to overcome emotional state during trading.

Thank you for understanding my point accurately. Make sure good money managing plan and earn more.

Move forward with baby steps. Don’t expect to make big profits from day one (although you could be lucky enough to actually make one). Fix your risk capital and keep a watch on the losses. Most importantly, follow your instincts. Don’t go by the herd mentality.

We can earn reasonable profit from our investment once we got enough knowledge and skills so risk will be minimize and profit earning ratio will be uprise we should focus on money management skills to tacjle sudden changes of the market.

I have been trading on and off for about 7 years now and I can honestly say that I have never lost. What i it that you guys are doing i don’t get it.

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We can turn the loss into profits after learning trading skills and strategies so the main objective should be learning otherwise Forex market is full of risk and we may lose all our investment in this business with the sudden change in the markets. Forex market is unpredictable so we should use properly take profit and stop loss tools to perform secure trading.

It is not possible that any person never loose however you can say with loss you got profit and as a whole you not remain in loss. It seems very difficult to turn your loss into a prof a profit. For profit you need more trading next time with new strategy that really work for your betterment. A good way is to analyze market before open positions.

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When I read such phrases, I always think to myself: that’s right! You have to learn from your mistakes, and it’s quite possible, actually. But at the time of loss - it’s impossible, you start to blame everyone.

these recommendations are quite useful, especially the ones about riskmanagement and patience. the thing is that at forex mafket there’ re no quick money. Unfortunatelly, few people understand it.