If it starts to move in an Opposite direction?

Discussion in 'General Forex Discussion' started by Peter Brandley, Sep 24, 2012.

  1. Peter Brandley

    Peter Brandley Banned

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    It happens to me many time when I open a positing after seeing the trend, it starts to go opposite to me. I wonder why this market becomes my enemy. Although I have set my stop loss but it will not give me the profit "ultimate goal" of every trader.

    I am sure that the same happens to you sometimes. What you feel in that situation...:)
     
  2. Enivid

    Enivid Administrator Staff Member

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    Never think of a market as your enemy. It just cannot be. There is nothing wrong in losing a trade. If market moves in an opposite direction, my position is closed by stop-loss. Not a big problem - there will be more trades to win.
     
  3. Easy Trader

    Easy Trader Master Trader

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    I gave up on trend lines because of this very reason. In real time it is very hard to say that a pair is in a trend and usually by the time its evident the move is fairly mature. I personally don't consider price movement on lower timeframes trends at all. Don't take it personal when the market moves against you, if you like your trend lines and still wish to give them a chance to perform for you try adding in horizontal support/resistance to the area where you wish to buy/sell from. Backtest the idea and see if it helps.
     
    Last edited: Sep 24, 2012
  4. dipurock

    dipurock Trader

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    Very interesting question ! At first I thought nothing would change, but as I listed things, I kept thinking of more changes.
     
  5. Peter Brandley

    Peter Brandley Banned

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    Well i think in this case - the very best thing to do when market go in opposite direction is for us to exit the trade or make use of the money management because with money management and stop lose we can learn to control our emotions and trade with a rest of mind thats what i really think regarding opposite direction
     
  6. Fxpipper

    Fxpipper Master Trader

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    Ahh, there is always a 50-50 chance of the market changing mid-trend but that's kinda characteristic of the market. In time, there will be a retracement and the trend will continue. So you just got to hang in there and the SL is there to minimize your risk per trade, so use it effectively.
     
  7. ezrydn

    ezrydn Active Trader

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    How many times has price turned against me? Too many to list. However, I'm one to wait out many reversals. The M15 is a good demonstration. I think all candles are birthed as Bulls. However, around the -10 min mark they may change. So, I ride the trade. I carry a $100 "SL" in my head and close orders if they pass that line. However, a majority of trades will return to the order line for another push. Depending on time spent, I'll close as soon as price goes into positive profit, even $1!
     
  8. Fxpipper

    Fxpipper Master Trader

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    Well we all tend to react everytime there's a reversal..human nature and all that. The key is in being patient and ride out the reversal.
     
  9. shanewatson

    shanewatson Trader

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    Obviously when an order triggers the stop loss we feel bad, but I think it is better to place stop loss than facing margin call or stop loss for not placing stop loss. You are right "profit is the ultimate goal" . This sentence is true for every business including forex but to accept the loss is also a part of business.
     
  10. ezrydn

    ezrydn Active Trader

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    Trend Lines" is another Forex rule I don't take note of. To establish trend, at the moment of trade, I do something stupid. Using the "spy Glass" negative, I minimize the chart completely. Wa-La! There's your trend, both over-all and instant.
     
  11. Fxpipper

    Fxpipper Master Trader

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    Trend lines and indicators are supposed to indicate the general direction and they do get it right, like 60% of the time when the markets not too choppy. Bottom line: use trends and indicators IN ADDITION to any strategy you employ and DO NOT depend only on these two to trade..
     
  12. sagor2u

    sagor2u Trader

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    Well i think in this case - the very best thing to do when market go in opposite direction is for us to exit the trade or make use of the money management because with money management and stop lose This sentence is true for every business including forex but to accept the loss is also a part of business.
     
  13. Raleigh Lee

    Raleigh Lee Trader

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    It always feels like the market is doing it to you personally. However, the market doesn't even know you exist.

    You might try one of the most profitable setups in trading: Identify the trend and then wait for a confirmation of the trend when price goes countertrend, finds support, and moves back in the direction of your trend. :D
     
  14. Peter Brandley

    Peter Brandley Banned

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    I think the best way is to use the hedging position at this moment if we see that the market is going against us so that we should be able to get the more good and easy trades in forex and if we do not know the good hedging then we should wait for the good return or close the position.

    Please share your views if it is good or not. Thanks
     
  15. Fxpipper

    Fxpipper Master Trader

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    The best option would be to figure out long term trends, use short term entry positions to hedge and wait for the market to move up to your exit.
     
  16. Andru

    Andru Trader

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    I think you should have the sum of money that you are ready to loose.. It doesn't mean that you should think that you will loose, but you should have another variant. it makes you sure.
     
  17. Robert

    Robert Trader

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    When you open a trade to buy or sell the it is a 50-50 chance you will win because you star with a negative balance (the spread). The odds are already againsr you when you open the trade so there is no surprise it does move against you at the beginning. If you are stopped out too many times you should revise your trading strategy, mainly your entry and stop loss
     

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