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TIP: Review Losing Trades

  • #1
  • First Post: May 9, 2008 12:43pm May 9, 2008 12:43pm
TIP: If you don't do this...do it and possibly become a better FX trader.
-------------------------------

So what's the tip?
Go back over all of your losing trades and find out what exactly went wrong. If you can't figure out what exactly went wrong...perhaps your technique (aka strategy) needs a little tweaking or you need to be just a little more patient.

I've been doing this with each of my losing trades and what I find is that most of the time...if I was just a little more patient and carried the trade for a few more hours it would've turned around quite well! Other times I tried to guess instead of following my system. (aka trying to get in a little to soon without confirmation).


PS: most of us know this, but it's a nice littler reminder, especially to those that don't do it or seldom do it.
  • #2
  • May 9, 2008 12:48pm May 9, 2008 12:48pm
That was one of the best tips my mentor gave me for trading forex. I keep a journal of ALL trades so I can go back and analyze what went right and what went wrong. I even keep notes on my emotions during the trade which helps me to understand the process of what the mind goes through during the ups and downs of forex.

Great tip by the way, GulfCoastPip
  • #3
  • May 9, 2008 1:56pm May 9, 2008 1:56pm
Quoting GulfCoastPip
TIP: If you don't do this...do it and possibly become a better FX trader.
-------------------------------

So what's the tip?
Go back over all of your losing trades and find out what exactly went wrong. If you can't figure out what exactly went wrong...perhaps your technique (aka strategy) needs a little tweaking or you need to be just a little more patient.

I've been doing this with each of my losing trades and what I find is that most of the time...if I was just a little more patient and carried the trade for a few more hours it would've turned around quite well! Other times I tried to guess instead of following my system. (aka trying to get in a little to soon without confirmation).


PS: most of us know this, but it's a nice littler reminder, especially to those that don't do it or seldom do it.




excellent tip
Patience + Discipline - Greed = Success
  • #4
  • May 9, 2008 2:06pm May 9, 2008 2:06pm
I place one trade a day..... set my SL and TP and TURN OFF the computer.
problem solved.

So far this month EUR/USD

http://img117.imageshack.us/img117/9...captureph3.png
Same Whore .... Different Dress
  • #5
  • May 9, 2008 2:06pm May 9, 2008 2:06pm
Lack of patience has screwed up more trades for me than anything else.
  • #6
  • May 9, 2008 3:56pm May 9, 2008 3:56pm
I always know why I lose a trade.
Plain dumb, just stupid, big idiot and many more things I call myself.

But seriously most of the time 1.I try and suppose I know which way the market is going.2. I do not wait for the "A" trade. 3. I put all my eggs in 1 basket, that being relying to much on a indicator or 2 or 3.

The other reasons I lost trades where:
1. Had not yet read James16, Jacko or Feb2865.

When I join James16 I know I will become one of the best traders, because I have what it takes other then what James16 can give me.
Thanks, Jonathan
  • #7
  • May 9, 2008 4:30pm May 9, 2008 4:30pm
Quoting johnedoe
I place one trade a day..... set my SL and TP and TURN OFF the computer.
problem solved.

So far this month EUR/USD

http://img117.imageshack.us/img117/9...captureph3.png

I think this is the most effective but the hardest way to do it. Do not believe in yourself or your trade is the cause of any losing trade most of the time. Plus never over-leveraged the account which oftenly over-looked as well
  • #8
  • May 9, 2008 4:38pm May 9, 2008 4:38pm
Someone edited my title. Why? Whoever edited my title please explain the reason why. Thank you.
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  • #9
  • May 9, 2008 5:07pm May 9, 2008 5:07pm
Quoting exitand4getit
I always know why I lose a trade.
Plain dumb, just stupid, big idiot and many more things I call myself.

But seriously most of the time 1.I try and suppose I know which way the market is going.2. I do not wait for the "A" trade. 3. I put all my eggs in 1 basket, that being relying to much on a indicator or 2 or 3.

The other reasons I lost trades where:
1. Had not yet read James16, Jacko or Feb2865.

When I join James16 I know I will become one of the best traders, because I have what it takes other then what James16 can give me.
You're too modest
Man who scratches ass should not bite fingernails
  • #10
  • May 12, 2008 2:37pm May 12, 2008 2:37pm
Quoting GulfCoastPip
Someone edited my title. Why? Whoever edited my title please explain the reason why. Thank you.
Hi GulfCoastPip! I apologize for any anguish we’ve caused! No one wants their creation to be tampered with by an outsider! The FF Site Managers often rename thread titles to make them more descriptive of the thread contents. Your original title of “TIP: If you don't do this...do it and possibly become a better FX trader” requires a member to click the thread in order to understand the topic. Ideally, members should be able to determine the content of each thread based strictly on the title alone. This of course reduces "drag" while surfing the forums. We use very careful discretion here to do our best not to tamper with the raw authenticity of any of the threads that are posted. There are methods to the madness I swear! I hope this clears things up. Nothing personal bud!

Cheers and trade well to all!
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  • #11
  • Last Post: May 12, 2008 3:11pm May 12, 2008 3:11pm
No problem bud. Thanks for the clarification.


Quoting Twee
Hi GulfCoastPip! I apologize for any anguish we’ve caused! No one wants their creation to be tampered with by an outsider! The FF Site Managers often rename thread titles to make them more descriptive of the thread contents. Your original title of “TIP: If you don't do this...do it and possibly become a better FX trader” requires a member to click the thread in order to understand the topic. Ideally, members should be able to determine the content of each thread based strictly on the title alone. This of course reduces "drag" while surfing the forums. We use very careful discretion here to do our best not to tamper with the raw authenticity of any of the threads that are posted. There are methods to the madness I swear! I hope this clears things up. Nothing personal bud!

Cheers and trade well to all!
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