Hopefully, following these rules will reduce the amount of loss in Forex trade. These are the rules I try to follow in every trade.
In the market you have to discipline for reduce loss in Forex Trade:
Discipline will give you more profit and help you get less money out of your pocket. The key to success in the Forex market: Discipline = extra profit.
Reduce loss in Forex Trade
You have to follow discipline in every trade. Do not trade in any trade without being 100% sure.
If you have less dollars in your forex account, reduce the lot.
For example: if your 500$ balance has gone down to 100$, then of course do not trade 0.05 lot, you can use 0.1. This will reduce the chances of eating your margin call.
You have 100 pip profit in your trade. Now hold the trade with great greed. Which does not go with your trading system. In that case, if the market starts to go in the opposite direction, your profit will be lost. In this situation we all wear at some point or another. We have to try to get rid of such situations. You can make a profit in the next trade if you keep low profit.
Suppose you make a profit of 50 pips in one trade. Now when you open the trade again, you must keep an eye on your loss so that it does not go below 50 pips. If average of the two trades is a loss, then the trade of that day has to be assumed to be very bad. In this case you can use stop loss. Daily profit should be maintained every day.
Create a simple trading system For Reduce loss in Forex Trade:
Do not change the trading system in any way. If your system says 10 pip profit, then so be it, even if you hold it that day would be 50 pip profit. If you stop trading at the right time, the amount of loss will be reduced.
You must have confidence in yourself for reduce loss in Forex trade.
You make the right decision.
We follow each other’s signals when trading. It may gain some trade but you will soon be crippled. Because you have to do the trading. If you follow someone else’s trade, the chances of loss increase.
If you lose two or three trades in one day, it is better not to sit in the market for 7 days.
Suppose you have $ 10,000, then your daily loss cannot be raised above $ 500. Not disappointed by the trade loss, he sat down again the next day. Then make a profit. The big problem for our traders is that they want to make daily losses. There is a lot of loss. In my opinion, if you play two trade losses every day, you will immediately turn off the PC and sit down the next day.
Must learn to control loss for reduce loss in forex trade:
You must have some trade losses. So you can survive in the market as much as you can control the loss.
Do not trade based on speculation for reduce loss in forex trade:
I have seen in my experience that when I open a trade based on estimates, there is a profit of 50 pips per trade. But after a while I see that 50 pips does not go. As a result of not using stop loss, the loss becomes much higher. This happens to most traders. You do what your trading system says.
Always be prepared to lose money for reduce loss in forex trade:
Because you will have some trade loss. But if you are ready to lose money, peace of mind will come.
Make a small profit every day For reduce loss in Forex trade:
If you want to eat everything at once, you will lose everything. People cannot survive in the forex market because of greed. Stop greed and become a millionaire.
Do the same type of trade every day in forex :
This means that you have to follow the rules that you follow in every trade. Practice each rule every day.
Never do extra analysis:
Don’t hesitate. If you are a little late to trade, you will see that your profit has decreased a lot. There are many who are watching the market rise but are waiting to see when the desired rate will come to trade. For example – your Heiken Asi bar looks green, but you are waiting for another bar to appear. But it can be too late for you. From the bar you want to sit on, the market can talk backwards. So do not hesitate to trade.
Use stop loss:
In my opinion, the stop loss should be 25 or 30 pip.
The market will not sit for you:
He will move at his own pace and whichever way he goes is the right direction. The market needs to be respected.