does anyone else not close losing trades?

i think someone else do the same...let's chat

Some people do, I've seen people do quite well. Eventually they pretty much universally take a massive hit to their account, unless they are trading with tiny leverage.

Sorry. I'm not the world's best trader but I'm good at cutting my losses. I still hate closing losing trades. But I do it frequently. It seems to hurt less now. It's my primary tool, you see, my capital. Imagine a carpenter with no tools.

I hedge my positions sometimes rather that close

I'm in a computer game. My character has to get to the treasure at the other side of the forest. Along the way, I meet potential assailants. I can choose whether or not to fight. If I choose to fight, during the fight it is quite clear how much damage either assailant has done to the other. There is always one of two outcomes. Either I win the battle or they hurt me by 1%. If they hurt me by more than 1% I disengage from the fight and (surprisingly) they leave me alone.

I always like to hedge than closing trades , maximum times it makes me happy but sometimes I lost my equity by hedging.

This is a thread that needs to be expanded on, its all psychology. For you to not be in a position to close a losing trade. Then you have been succumbed to your emotions ruling your mind. https://www.tradersreality.com/ The guy on this blog which i found, talks all about the psychology of trading. This would be a topic im sure he would join in on.

Happy trading all

I used to when I trade my first live account. It was a bad memories. At least I learn an important lesson that day. Just close it when it already reach daily goal stop loss.

Well, I don’t close my losing trades manually! When I open any new trade position then I use SL and TP according to the market context! After opening, I just wait for the result either its TP or SL! By the way, in the off days of market I do analysis of my live trading mistakes!

Yes - lots of people don't.

They're among the 95% of retail forex traders whose losses are keeping the brokers in business and maybe covering the gains of the 5% of winners, too.

Underneath and behind most of the reasons and "justifications" they generally tend to offer is an underlying fear of or embarrassment at "being wrong" (and they tend to be the traders who do look at it in terms of "right and wrong", which is part of their underlying problem).

1. Your system's profitability
If your system has been tested to be profitable, you should not be worried about clicking the close trade for loss button. Just follow your system and rules.

2. Entries
If you keep getting into bad trades, consider being more conservative in your entries. Your otherwise -30 pips trade would maybe be -10 pip position if you do that.

3. Know your potential maximum loss per trade
Before putting on a trade, you should already have figured out your maximum potential loss based on your position size and stop loss. 'Am I comfortable with taking $500 loss at 30 pips stop loss.' If you are not comfortable with it, make adjustment to it immediately instead of waiting for it to happen during live trading.

yeah, let's chat about tied up capital, negative swap rates, margin calls, and brokers liquidating our positions.

i scale into a position usually, and as instead of individual SL has a equity %loss SL that i use.

That really depends on the trader and the situation on the market. Sometimes one should stick to their decision and wait out the change in market direction. Other times a trader should know when to cut their losses and go.

Is anyone willing to consider a totally unorthodox approach that has gained me 48% profit in 2016? Yes, in the minds of all the gurus I am a heretic, because I do
not use stops. Here is the thinking, in summary. Spread your capital over 3 or 4 sub accounts. Set your default entry order to a small amount, equal to 0.0001 of the
capital amount in each sub account. Set your T/P at 35 pips, the typical move prior to a correction. Establish the prevailing trend in D1, H4, H1, M15 and M5. When all of these charts are confluent as to trend direction, wait for a pullback in M5 and enter your position according to the trend. This is the most conservative entry and can be made a little more risky (more frequent entries) with other additional techniques not discussed here.

In summary, you have spread your risk over 3 or 4 accounts, limited how much you are threatened by a severe market move, by using small orders, diversified your position by taking multiple trades, and entered with the best probability in your favor. If the market goes against you, and you have entered at some pretty extreme long term price positions, the price usually only goes a short distance and then comes back to validate you. Remember that you cannot know which currency pair will move first, and how far, so you average out with diversification and harvest the crops as they ripen. In the long run, markets always return to their point of origin, if you can wait them out, and taking small positions allows me to tolerate even 1,000 pip moves on some positions and still be gaining on other ones while I wait for correction. Think about it for a while, without prejudging, and test it in your practice account.