Should I stay or should I go?

[mumuy]

hey guys just want to know if anyone is facing losses more than profits then what he/she should do?

1) Leave the Forex trading?
2) Continue with the trading methods?
3) Change the methods?
4) give more time practicing on demo?

Try to leave the platform for a while just for refreshing your mind is good, after everything is ok, you can adjust something from your trading system and run a test on a demo, if you just dont want to waste time, while you are running a system in a real account, you still have some strategies forward test on the demo.

Any suggestions?

 

[Enivid]

Definitely, stop live trading. Then, revert to demo testing until you are certain that you have found a strategy that you can follow and that has an edge.

 

[ezrydn]

Your numbers 3 and 4 are your answer. If your methods aren't working, change. Master new concepts on Demo at 0.01 lots. Learn something you've never thought of before. It wasn't until I ventured into the unknown and away from main-stream trading concepts that I began realizing big returns.

The best swimming is in the deep end of the pool.

 

[cedwardone]

Your numbers 3 and 4 are your answer. If your methods aren't working, change. Master new concepts on Demo at 0.01 lots. Learn something you've never thought of before. It wasn't until I ventured into the unknown and away from main-stream trading concepts that I began realizing big returns.

Yeah, I agree. Numbers 3 and 4 are the answers if you don't want to lose more.
I think it applies to many aspects of our trading, business, work and life.
If we find something goes wrong, of course we should stop it and to look for why, and then try other methods to check the results , finally restart.

 

[Rambo35]

I would recommend #3 and go back to a micro account until the situation improves.

 

[PaulPoulp]

I would think about yourself.

Do YOU enjoy it?

If yes.

Then treat it like a hobby, a passion, until you get good at it.

If no.

Find something to do that you do enjoy. Plenty of ways to make money online.

 

[BlindFA]

1) Go back to paper trading
2) Go back to learning, maybe from somewhere else, professional help my be good
3) Test, test, test
4) Tweak, tweak, tweak
5) re-test, test, test

And when you're finally ready, go back to live trading.

 

[ituglobal]

Definitely, stop live trading. Then, revert to demo testing until you are certain that you have found a strategy that you can follow and that has an edge.

I completely agree with this. Rookies tend to visualize how much they can make from then markets, without thinking of how they can control the impact of the uncertainty when things go wrong. You can really control what happens to your account… plus you can deal with your trades with clean rationality.

 

[mumuy]

I agree, thanks for your advice

 

[Master Forex IB]

You loose money in forex but not loose hope .You can scntnue forex trading practice on demo after it use forums bonus for trading if you do not want to put your money in risk . I hope you will feel the difference after some months.

 

[Rockefeller]

My advice would be
1. Trade on demo test your strategy.
2. If you have a track record on demo then move to live.
3.Open a small account live to get the feeling what is to trade with real money.

If system is not working then change it.

 

[mumuy]

Life is a journey, never quit and always find ways to make it.

 

[michael77]

I really like your 4th point. leaving this market would not be the permanent solution. I believe Forex is one kind of addiction and it is hard for anybody to leave this market until they lost their everything. If anybody keep loosing then my best suggestion is to start demo trade again and just try to find out your own mistakes so that you would not do the same mistake next time.

 

[mumuy]

thanks guys for the wonderful inputs..

 

[HeavenLeighGill]

3 and 4. I’d say to really look at your strategy and where things are going wrong and then to start over on demo. Take a break from live trading, go to demo, and check to see if your broker charges inactivity fees if you plan on leaving anything in your account while you do that.

 

[Jungletrader]

Number 4 stay on demo .
It's a risk free way of learning your craft .
Backtesting your strategy to see if it has an edge .
Maybe study the basics again it's no harm we've all been there

 

[sharabela]

hey guys just want to know if anyone is facing losses more than profits then what he/she should do?

1) Leave the Forex trading?
2) Continue with the trading methods?
3) Change the methods?
4) give more time practicing on demo?

Try to leave the platform for a while just for refreshing your mind is good, after everything is ok, you can adjust something from your trading system and run a test on a demo, if you just dont want to waste time, while you are running a system in a real account, you still have some strategies forward test on the demo.

Any suggestions?

I would go with number 4. A trader has been making consistent loss, it means he has to go back on the board and sort things out. Demo trading is the best thing to do in such case. He should take enough time to find a solid strategy. Once he is confident with the strategy, he should go back to live trading again.

 

[e_abrams]

The initial post was made all the way back in 2013. What have you decided for yourself since then?

 

[Glossy]

You must learn to analyze and feel the market.
Before that, it is advisable to trade on a demo account and simultaneously test your strategies on a real account with small lots.

 

[e_abrams]

Would it not be more prudent to test the strategy on a demo account first?