How I Turned a Losing Trade to a Winning Trade.

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Thread: How I Turned a Losing Trade to a Winning Trade.

  1. #1
    Member asiaforexmentor's Avatar
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    Default How I Turned a Losing Trade to a Winning Trade.

    How I Turned a Losing Trade to a Winning Trade.
    Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade.



    Forex trading pair: GOLD = XAU USD
    This is an interesting trade on the forex pair XAU USD.
    In the chart above, we see a series of forex price action inside bars. (Highlighted in the blue box)
    Meaning bars that are smaller than the previous bars.
    When a series of inside bars like the above happen.
    It means that price is having an indecision of where to go.
    It’s like it is gathering momentum, for a burst out of either side.
    Which could either be up or down.
    So what happened in this scenario is that we placed 2 pending orders. A buy and a sell.
    These 2 orders are marked by the gold line (entry) and the red line (stoploss).
    So the buy order triggered. (Gold line -Entry) and we got in on a buy trade.
    With that, i took away the pending order for the sell trade and made it a stoploss for the buy order.
    Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

    When i trade, i would usually have 2 take profit targets.
    So that when take profit 1 is hit. Which is marked by the purple line. I would have taken my first profit off and shifted my stoploss for position 2 to break even.
    By doing so, i am also on the “SAFE” side. As price may hit Take profit 1 and reverse back down.
    And as i have taken profit a TP1, my 2nd position’s stoploss is shifted to breakeven.
    So i am in a FREE trade.
    So whether or not it may hit TP2. I have already gotten profits.
    In this scenario, i have taken profit at TP1 and my 2nd position has hit my stoploss for breakeven.
    So i’m out for this trade.
    From this scenario you can see that i am not always perfect.
    No one is.
    By trading on the above method, we are sure that our account size will grow consistently.
    Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

    Lets look at what happen next.



    Price went right down after which.
    So if i hadn’t had a TP 1 and TP2 method.
    I would have kept my stop loss at the red line.
    And made a loss on this trade.
    BUT By doing playing the above method.
    Instead i have gotten profits..
    I hope you gain something from this post. Let me know if you did.

    Ezekiel Chew
    Asia #1 Forex Mentor
    Asia Forex Mentor's forex course is now FREE!

    A complete professional forex trading system that even newbies can apply instantly.

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    If you open a trade according to the market trend then it can be! But, when a trader opens a trade against the market trend then it might be a losing trade. There is no magical theory, traders need to gather more knowledge?s to improve their trading skills. I have best fired on this issue. Yeah! I get professional market analysis in everyday from TradingBanks broker. These useful trading ideas are the main strength of my live trading.

  3. The Following User Says Thank You to Sohrab Rustom For This Useful Post:

    Ashley Mallett (05-08-2020)

  4. #3
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    in ro ham eslah kon:
    Loosing money is a common thing in forex market. Even those who are professional in forex market also loss money in forex market. But if you are wise enough to make a good choice loss can be recovered and you can get profit from you investment. A lot of people don't show interest on investing in forex market just because of the fear of loosing money. If you have faced problem to decide what is good for you, you can take help of the good broker existed in the forex market. I always take help from TP Global FX to take any decision of investment. they help me to execute my plan and make profit. After joining with them, I never loose my money.

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