How To Deal With Loss Streak In Forex

[moonchild]

In forex trading there are times that your strategy will have a low turn out and you will be having some losses or maybe you have a bad trading week, the market caught you in a range and you lose money, if you are a trader how do you deal with such low times, it is good to note that this may cause you to feel depressed or even doubt your own skills in the market, this article is going to discuss some ways you can handle such losses and feel good about yourself after taking L's

1. Stop Trading; This is the number one technique that works for me, whenever I start experiencing a loss streak in forex, I stay away from the chart and do something entirely different, like write a short story or go visit some friends.

2. Assess Your Trading Plan; This can also come in handy, you can check your trading plan and see if you are making a mistake in your trades then your trading plan can help you to discover a pattern and you can avoid it.

3. Change Your Strategy; This can come in handy if the strategy you are using is obsolete, you can discard it and get a new one.

 

[FXOchartist]

Traders should to realize if loss is part in trading that sometimes inevitable, however possible traders facing successive loses in trading and could absorb emotion. When this condition happen it is recommended to leaving the chart and closed trading platform. Emotion in trading will make more messed up all trading plan, so traders need to control their own emotion to prevent from reckless decision.

When trader face margin call account they can back to use demo account like as demo ECN account FXOpen. in demo account trader can practice and learn new trading strategy without any risk.

 

[Dita Walczak]

There is a plethora of brokers available on the market and that’s why traders get confused about broker selection. Eurotrader offers traders a nice demo trading platform and a good education program to educate their traders. They ensure instant support, high security of funding, narrow trading spread, and high leverage.

 

[eldavis]

One major mistake most traders make after going through loss in the forex market, is to continue trading. They assume once they loose, they can easily gain back what they have loss by picking up another trade in the opposite direction. This mindset is pretty common, especially amongst new traders. Whenever you experience loss the best thing to do is stop trading. Take a break to cool down your emotions, when we are emotional we tend to take wrong or drastic decisions. Take a break to cool down or thoughts, then the next step is to find out why you had losses, the mistake made and most importantly what needs to be done next to avoid such mistakes.