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Recovering from a Bad Loss on Forex

Recovering from a Bad Loss

Forex/Day trading is another form of a business that anyone can pursue, although it is a very different business model than what most people are use to. Just like a business, with trading you have to have a goal in mind to what you want to reach financially. With that goal in mind, you have to come up with a plan. With that being said, you also have to keep in mind that there will be losses. Recovering from a bad loss is possible, especially with the next few tips that we'll be sharing with you.

1. Take a breather. Avoid jumping into a new position to "make up for it".
Jumping into another trade or position after a bad loss is something you should never do. This could potentially cause more losses and could blow your entire trade account if you keep jumping just to make up the loss. This is called trading based on emotions which is how 80% + new traders lose money. Take a breather, stop trading for a bit or even the day. Take the time to clear your mind and...

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