Thanks all for your replies. Some may think that I'm stubborn and not willing to cut loss and move on. I have been doing that during my 6 years of tradings dutifully. But not until early this year, I coincidently bumped onto a thread of some forum ...

How to rescue a losing position?

The loss management/damage control portion of the plan has yet to establish, thus the purpose for this thread.

How to rescue a losing position?

Thanks for sharing attila. I presume you are scalping in low TF ? I guess price momentum thrust will be needed in order to attain high win rate with SL 3-5. How do you exit the trades ?

How to rescue a losing position?

Thanks all for your responses. Just to share, I do have a 200 pips "protection stop" in place to protect my account in the event of sudden spike induced by CBs. By rescuing a losing position I meant to : - BE ,or - be in the new direction (trend ...

How to rescue a losing position?

Thanks for the article WideEyed.

How to rescue a losing position?

Thanks for your reply kinspk. I guess the main challenge is when to engage hedging and when to release it. The FIFO policy also affect how we scale.

How to rescue a losing position?

Thanks for your reply mfoste1. Not that I don't accept losses as part of my businsess. But I believe accepting loss should be the last option, there should be some ways to minimise or alleviate the loss.

How to rescue a losing position?

Thanks for your reply TPOTrader. Yes, I've looked into hedging but not with high negative correlation pair, but using another account for opposite trade on the same pair. For your point 2 & 3, I don't see their feasibility.

How to rescue a losing position?

Concurred !

Extracted Thread (per thread starter's request)

lotsize matters — Nacho, you dont feel the pinch becos you are using 0.0x lots.Thus, you think you can tolerate 1000 pips SL. But, I assume you WILL increase your lot size eventually. Why dont you create a spreadsheet and tabulate yr win/loss ...

No SL No Leverage Strategy - working so far

Do you mind to share the EA ?

EA trading based on Candle Color

Are you using any EA or manual trading ?

EA trading based on Candle Color

Thanks, but I only need candle colour no other indicator is required, basically KISS.

EA trading based on Candle Color

The EA backtesting will tell whether this strategy is profitable.

EA trading based on Candle Color

Just look at monthly chart of Usd/Jpy and Eur/Jpy, you will see that Yen is indeed devaluating. Despite the ZIRP for years, japanese economies were slow in growth unlike the US's - very robust and responsive to interest rates. The difference of an ...

What will become of Japan?

Well said. Plan the trade and trade the plan. Never let profit turn into loss, a profit no matter big or small is still profit ! Greed in the long run not only eats up your bottomline but most importantly your confidence in trading. Soon, you'll ...

Jacko's Forex House of Pleasure and Pain

In a nutshell, it is all about how you manage RISK.

Much of What You Know About 4X is Wrong!

Loss - When one incurs losses, one starts to doubt his system and change systems, again and again. Win - choose a suitable timeframe, trade with self-customised system, consistence daily/weekly/monthly profit with good mm. Just my2 pips.

most common reasons for wins or losses