Is there a good way we can Stop Losing money?

FxVictor

Trader
Feb 28, 2013
15
0
12
Hello guys, well so far we have seen that many forex traders has stated that losing money is much easier than winning money in Forex. Is there a way where we can stop losing money and make more profits?? Many strategies and comments will be most welcomed. Thanks
 

inggo

Banned
Jan 13, 2012
498
12
59
Philippinese
in general and the most basic of all and this is always told to new traders in forex, practice practice practice, stick with demo trading and try to learn as much as possible about the market the pairs, the news the basics, the strategy, forex trading is so big you can not learn in just one year, the winning in forex is not about earning big, but its minimizing the risks by learning the trade and the charts and everything about every detail a certain pair.
 

okon2much

Banned
Mar 9, 2013
59
0
17
While trading forex, you are sure to lose sometimes. Actually, you can't stop losing in forex, but you can minimize your loss and maximize your profit. There are many ways to minimize loss, and that is the use of the stoploss option. You can also learn to scalp, by registering with brokers that fully allow scalping. You won't lose much when you scalp. I have been using Profiforex platform to scalp and I so much love their execution speed. You can also learn how to hedge. This means opening opposite positions at the same time. These strategies will help to make more profit while trading forex.
 

Jira

Trader
Feb 18, 2013
26
0
12
With good money management, I think we can minimize the losing of our money. It will keep us in relax and finally we can recover our loss and turn in to profit It is impossible to win all transaction 100% in forex trading bsuiness.

so i always put stop loss each open transaction to minimize my loss if i make make mistake. sometime loss is necessary to know our trading strategy weakness
 

krecex

Trader
Oct 8, 2012
72
0
17
You need to learn and practice more. Practice until you are able to minimize the lost up to 0.30%. This will help you to stop losing your money. Treat demo like a real account. This to help you too in preparing for real battle in trading.
 

cLeverEdge

Trader
Apr 18, 2013
7
0
17
Melbourne
Jira is right - you need to focus on risk management first to protect your capital....

If you cannot protect your capital, you are likely to lose, or give back profits, regardless of how good your strategy is.

Once you've learnt to protect your capital, then you can start to focus on the reward, and then start being picky about which strategy you use.
 

herculesfx

Trader
Mar 20, 2013
14
0
17
Brazil
ONLY one strategy for 95% of new traders is :
not to trade at all !!!
....not until You gain proper knowledge
and start slowly ... I mean very slowly ... demo (not too long), micro/mini real account ; small leverage and not hurry !!!!
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Here're a few tips:
Learn to trade, start with the demo, track all your trades and try to increase the account balance.
Avoid EAs and opt for manual trading
Start small, like a nano account and go live after you have a strategy in place - not before.
Good luck!
 

mohmed-tarek

Trader
Apr 11, 2013
46
1
22
cairo
borsaforex.com
its good topic i want thank you on it ,yes we can transfer the loss into profit by applying the technical analysis and the fundamental analysis and proceed in taking this business
with very serious way to make a profit
 
If you're a new trader, you're probably making the big mistake all newbies make. You trade too much. That can be taken two ways. One is velocity and the other is amount. I'm speaking of amount. When I started and throughout my "training," I never traded more than 0.01 lots. You see, bigger numbers were not my target. Positive numbers were my prize. Many burn through Demo accts for no earthly reason. To say you won a big trade? In Demo??? You just end up wasting money.

So, to answer your question, if you haven't realized it yet, is learn and practice. Over and over. There's no simple way around it. Believe me, all here, myself included, have looked. It's like the Million Dollar Robot. It just doesn't exist! Learn it. Learn it manually and you'll never regret it.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
Hello guys, well so far we have seen that many forex traders has stated that losing money is much easier than winning money in Forex. Is there a way where we can stop losing money and make more profits?? Many strategies and comments will be most welcomed. Thanks

I think the two most important aspects would be good risk management as well as a good trading strategy. I am comfortable with my own risk management, but I am still working on my strategy which means that I am due for a few more loosing weeks (hopefully less) before I turn the corner.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Yup! A micro or nano lot is perfect for practicing, of course you can also do the demo but I usually suggest demo to develop a strategy which you can try out on a micro account. Keep track of all trades and as others have pointed out, it takes time and practice
 

andreask

Trader
Apr 24, 2013
4
0
12
Know when to quit. Don't gamble your money. If you start having a streak of bad luck, get out of live trading and go practice with a demo account until you gain back your confidence or discover/test a better trading strategy.
 

jesusstarck

Trader
Apr 26, 2013
1
0
12
Well, Traders are always looking forward to gain big amount of profit. Indeed, Forex Trading is long term planning so you need to use innovative strategies for that. If you do proper planing and avoid to take early decision so, it could be beneficial to loosing your money in this Forex Trading Business.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
Know when to quit. Don't gamble your money. If you start having a streak of bad luck, get out of live trading and go practice with a demo account until you gain back your confidence or discover/test a better trading strategy.

Going from live back to demo is a terrible idea in my opinion. You need to have a good risk management plan which you follow so that even a streak of bad trades does not wipe you out. Trade micro-lots until you have a good strategy before trading bigger volume. Going back to demo (even starting in demo) is a suicidal mistake for traders.
 

FxVictor

Trader
Feb 28, 2013
15
0
12
Yes agreed with all of you and the best strategy i personally agree with is Money management. This is a good way we can prevent losing money in Forex, this is essential as we will be able to manage our account effectively and the outcome will surely be positive. There are still many that you shared but this is one of my best.
 

tabalo

Confirmed HotForex Representative
Feb 20, 2013
97
1
17
The best way is stop your trading forever :D. Joke:

I meant it's not easy to stop losing on forex, you can win but not forever, Forex is like our life, we have to get problem, failure (losing) for growth up (increasing our trading skills).

But I do think you should keep trading and gain expericing, minimum the lost by minimum your lot trades.