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Lost 20 trades. Do you advice I quit trading?


flybiz08

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When traders are met with losses especially the new traders, they tend to think that quitting the forex market is a better option. Some who have the zeal to continue will refuse to give up while some in this same situation believe that it is impossible to win. Do you think it is better for such a trader to quit trading?

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  • 5 weeks later...
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When traders are met with losses especially the new traders, they tend to think that quitting the forex market is a better option. Some who have the zeal to continue will refuse to give up while some in this same situation believe that it is impossible to win. Do you think it is better for such a trader to quit trading?

 

Well,different opinion for different people.In my own case,no matter what,i won't give up.What the trader should do is,get some time to relax and come up with another strategies to trade.Maybe this time,things will change for better.If you are loosing money using one strategy,get another.

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Some people do guess in trading without using a good strategy that suites them and thats why they always fail in the forex world. For me i dont think quiting is the right option as if i have the zeal to nake it, i will restructure myself and come up with a good strategy that will work out for me

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It depends on the person. If it means that much to you to succeed in Forex, then you shouldn't quit. Instead, it is better for you to step back and look at the market and figure out what you are doing that is making you lose your trades. Just stay with it if it means that much to you. Eventually, you will win a trade if you haven't yet.

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My advise is simple. Don't lie to others and don't lie to your self.

My point is simple you are lying to yourself because you know you don't know how to trade, you don't have skills, etc and yet you tried to trade. that's the reason why you loss 20 trades. So you are lying to your self. you are lying to others simply because you give impression that its hard to earn in forex but actually your not ready to trade in forex.

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quit? i advice for you not to do that, if you think like that i think you cannot be sucess here, you can see there are a lot of people that already lost so many thing from forex but still not giving up until now :D, but if you tired maybe you can stop for a while and then when you feel refreshed you can continue your trading activity in this site

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Even you made so many loss trades you still need to continue trading if you are really love or have passion in trading if not then you will not really win in your trades because those traders do only think of losing and negativity while they need to be strong and continue to pinpoint those mistakes that need to be corrected. Since no trades are perfect and will continue to have losses.

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Firstly I must commend you for your determination and persistence. It does show that you really want to become a forex trader. It may also help to go back to the basics and even use a demo account for practice. Rather than quitting I would say regroup and try out your trading strategy in a demo account. Right now its important that you determine what you are doing wrong so you can rectify accordingly.

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  • 4 weeks later...

quit? i advice for you not to do that, if you think like that i think you cannot be sucess here, you can see there are a lot of people that already lost so many thing from forex but still not giving up until now :D, but if you tired maybe you can stop for a while and then when you feel refreshed you can continue your trading activity in this site

And those who don't giving up are still losing in forex. 20 loss is already a lo and its shows that your not going to earn money in forex at all. So I suggest that you stop posting if you have ten loses because its just going to continue. Me in 20 position I open only 1 turn out to be a negative earnings. But still I have hard time earning because that one loss is almost equal to many profitable trade.

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  • 2 weeks later...

Profit and losses are ofen in forex trading and i dont think it would be wise to leave hope, but as you are getting continious losses i feel you should look into the strategy you are using, does it need some corrections and look the reasons you see were responsible for these loses, try to correct those.

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It's not often but always in forex trading. Even we try to not have losses or we do any means to not have losses in trading we will simply have losing trades. These losses will not a shame a lesson for us to not give up by just losing as we don't lose our life here and lose money which we can still have it while we are still alive.

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One should not loose hope even in the event of successive losses. Yes, losses should be expected in forex trading as that is the nature of the industry but in this case you may want to do do a review of your trading to see where you may be going wrong and what to change to improve your trading.

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  • 3 weeks later...

No don't quit trading but learn how to minize your losses and how to maximize your profits, don't lost hope you can be a good trade one day

I guess not quit just stop and try to trade in demo account and continue only when you find a way to make profit again. And I guess in 20 loses he must also ask himself twenty times why on those trade he loss. In this way he can earn good money in the future. I don't. like trading even if I only have 5 consecutive loses. Because I know its going to continue unless I found a solution in demo account.

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The thing is that you are going to face setbacks on anything you pursue. The successful person is one who has seen himself through the setbacks. If we all let setbacks discourage us from pursuing anything that meant the most to us, then we would probably still be in the middle ages. We probably wouldn't have computers, cars, etc. If it means a lot to you to succeed as a Forex trader, then don't give up. Just back up, try to figure out what you are doing wrong and then jump back into the game with a new approach.

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Taking a break from live trading in the first place is something that would really be helpful in this case. Trying to continue trading at this stage will cause problems as the mindset is just fresh from successive losses. You mane of course need to go into demo mode to as an effort to get back on track.

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  • 3 weeks later...

I would even think of quitting after losing a lot of trades even if I lost a lot of money. Quitting after so many trader would mean that you would have paid for very expensive lesson and not make use of what you have learned. Its better to use the experience to determine where the problem is work at rectifying.

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Besides we always talk about how much you can learn from your losses and this would be the ideal time to learn a lot from your previous trades. It means that you would have wasted your time if you had to quit because you could better make of use of the what you have gone through to improve yourself.

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  • 2 weeks later...

If you make lose continuously like this. Then it means that you are getting experience. I hope, you must learn 20things that should avoid during trading. By this, you can trade successfully in future orders. Just keep a positive attitude and spirit to enjoy trading.

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Indeed the key is that you are still learning from the experience and if you are not learning from the losses then it just a wasted experience. At the end of the day, these past experiences with your losses should help you when you move forward and continue trading to become a better trader.

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Don't lose ourselves in just having few losses. In fact, if we ask those expert traders how many losses they made probably they will say they can't remember because its too many. Always to keep in mind that its normal to have losses regardless of the count as long as we still have confidence and our trust to ourselves then, we will soon make profits with our skills also.

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When traders are met with losses especially the new traders, they tend to think that quitting the forex market is a better option. Some who have the zeal to continue will refuse to give up while some in this same situation believe that it is impossible to win. Do you think it is better for such a trader to quit trading?

as well as you say zeal to continue or giving up. Many people with many different choices. But for me, I think that trading is a hard work , especial with forex.It is not only to need the thinking but also it require the patience. And if who don't have both this , they may not suitable with forex and to give up may the best choice

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