Hi all. I thought I will start this thread as most of us have been stuck in bad trades at one point or another and pondered what to do. Of course one should always have a stop etc but things happen. Here are a few instances where we might be in bad trades and if someone can add we could perhaps make a sticky and help those who need some instant help.
- No stop
- Platform freeze during trade set up and large movement occurs in that time
- Trying to hedge without planning and closing one position too early
- Having a good trade originally, we don't take profits, don't set a trailing stop for any reason but something happeed in the market and overnight we find ourselves in a mess.
- Keep hedging till we are near margin call
- Simply a bad trade and reading too many forecasts with conflicting oppinions and chase the market till we risk losing everything, so we keep the trade.
There are many more, but basically it would be nice if some experienced traders could offer some constructive help.
No need to say that I have had all of the above in my 8 years of trading and even now I catch myself in bad hedges sometimes, luckilly more money tha in 2002 to sustain the wait. We are all learning all the time.