How to rescue a losing position? | Page 16 | Forex Factory

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How to rescue a losing position?

  • #301
  • Jan 14, 2013 12:55am Jan 14, 2013 12:55am
Quoting forexmnstr
rescue a losing hand : best method when your long ... to keep buying when market is against you ... this way you will reduce your price ... for example if you bought 1 lot EUR @ 1.3200 and market went against you 100 pip ... now you buy another lot @ 1.3100 ... now your average price is 1.3150 ... and so on ... if your short just do the opposite method ...
Good luck with this. Keep me posted!
  • #302
  • Jan 14, 2013 4:52am Jan 14, 2013 4:52am
Quoting TPOTrader
If by rescuing you mean not accepting the loss; there are many ways:
1. hedging - opening trades in pairs with high negative correlation
2. grid trading - assuming you started your initial position with small size you can keep buying/selling at "better" prices until your margin runs out-hopefully you only need a small retracement to get out at b/e
3. No stop loss- just let that sucker go negative and pray

but if you really want to be a professional trader, getting out of losing position quickly is something you want to ingrain in your method,...

There is no need for any 'rescuing' if you implement your stop loss.

In any trading position, you need to expect losses sometimes. That's why you need a stop loss to LIMIT your losses. Accept the loss and move on. Wait for the next trade setup.
  • #303
  • Jan 26, 2013 7:39am Jan 26, 2013 7:39am
Quoting Frankxyz
There is no need for any 'rescuing' if you implement your stop loss.

In any trading position, you need to expect losses sometimes. That's why you need a stop loss to LIMIT your losses. Accept the loss and move on. Wait for the next trade setup.
If you implement your stop loss there´s no need to rescue because you lost it anyway.
I guess if youré against recuing ideas there´s no Point in reading this thread.
Positions can be rescued in any ways...

Consider this, you put a SL, then it goes your way, then it goes against you for a while, you don´t get hit
and finally you make Profit.
This is the idea of recovering, the difference is you should never get hit, cause you don´t put a stop but a hedge..
  • #304
  • Last Post: Jan 26, 2013 8:57am Jan 26, 2013 8:57am
Quoting mfoste1
No secrets, close a losing position as soon as you realize its a loser. Cut your losers fast, simple as that.
that what i have been doing so far. Reading FTI thread, made me rethink and found a statistically significant way to minimise loss. I have stop and once clear that trade will not do too well, lower my expectations to go for b/e. This seem to rescue nearly all positions. In remaining cases get 1 risk loss. No averaging or hedging.

Rescue, if any, depends on trading style. For mine it appears to work fine as per above.
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