What do you do to avoid losses?
The best approach to avoid the losses in our trading is to make use of the Stop Losses.
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One does need to learn how to use SL properly though. Improper use doesnât help.
There will be a loss in trading but we have to learn from this loss. It is possible to cover trading losses through various types of research and information collection. And you have to practice a lot.
-Use a sound trading plan
-Make use of stop loss
-Formulate a good risk management strategy
All that helps me to avoid losses.
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I am glad you are trading successfully!
simply it happened because you didnât trade with Demo account in the first place and your brain wasnât used to the marketâs atmosphere , hope it would be a good lesson for others.
If we will start trading with the help of the Demo trading accounts then we can easily learn about how to do trading in this business and earn the Profits.
Also do not put money in the market what you can not afford to lose.
That is why the risk management and money management are very important part of the trading and can be crucial to your trading, so you will have to put some effort in learning how you can manage them before going to live.
Itâs sad to know. I also lost quite a lot in the beginning. But with time, I was able to recover my losses.
Losses are certain. Quitting is not the only solution. Good to hear that you didnât quit and learnt through the losses.
Agreed! And instead of quitting, one should try to gather more knowledge and correct on the mistakes to grow in a better way.
Itâs unfortunate that you lost so much. But I believe that the trading journey of most of us looks like that only. I donât think that there will be any trader who has not lost at all. Thatâs why we must focus on learning money management and risk management skills to save our money from losing.
Losses are an important part of your trading career. If you think that you will be able to make your trades without making any losses, I donât think you will be able to go far. But remember that you will lose along your way. So, you must learn from your losses as well.
The answer to your problem lies in the first line. Overtrading. Thatâs what you should cater to.
This is such a sad story. I am curious to know how it turned out for this guy tho. We must be careful with Forex trading. It is very risky, but one can avoid this kind of loss if all the rules are followed.
Same here, I am curious to know how is he holding up. I have always said it, if you cannot take a good look at your disciplined trading, you will never grow
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sad is when a child dies at a tender age
I love the statement, that is what most traders fail to understand, whether you start a business with $1m or $1k if you donât know the business youâll fail, but if you know it youâll make profit and progress.
Happy trading folks