How can exactly avoid the losses in Forex?

[PonyHinch]

By having an entry and exit strategy that works, and sticking to it. That’s the best one can do.

 

[Esha.J]

Use a practice account before you go live and be sure to keep analysis techniques to a minimum in order for them to be effective. It's important to use proper money management techniques and to start small when you go live.

 

[Kodakoto]

For those who use stop loss, all just need to set a loss limit and forget about the position. The size of the stop loss must be selected for each trading instrument.

 

[Kajir]

Preparation really needs to be both analytical and strategic before starting a trade.

 

[Marvini]

The main reason why most Forex traders lose money is because instead of consciously controlling their emotions, controlling all aspects of trading, they become hostages of emotional trading.

 

[Kajir]

One of the main rules of trading, which all tutorials persistently put into the heads of users, is the mandatory setting of a stop loss in order to limit potential financial losses.

 

[tomorton]

One of the main rules of trading, which all tutorials persistently put into the heads of users, is the mandatory setting of a stop loss in order to limit potential financial losses.

I agree.

After you have done this, the most difficult remaining decision is when to close a profitable trade.

A tricky decision in the meantime is when and how much to add to a profitable trade

 

[scadderoccasional]

The main reason why most Forex traders lose money is because instead of consciously controlling their emotions, controlling all aspects of trading, they become hostages of emotional trading.

Wow I never thought about it that way. This actually makes sense because when I get down to trading, I keep trying to avoid trading based on my emotions but in that process I end up getting more emotionally influenced. Something to think about, thanks.

 

[shanellcox]

Idk I think it can also be because they are not ready for the market but they just jump into it without thinking properly. Emotions do add to it all. Happens to a lot of traders.

 

[Tommcurrans]

Wow I never thought about it that way. This actually makes sense because when I get down to trading, I keep trying to avoid trading based on my emotions but in that process I end up getting more emotionally influenced. Something to think about, thanks.

I think I know what you mean. This happens to almost everyone while trading. The more you consciously try to avoid emotions, the more you are likely to encounter them. I was making a few trades with Fxview a couple of weeks back and it was going well so I kept trading. And guess what, I ended up overtrading.