[celticheart]

Hi, everyone..

I started trading Forex about a year ago, and last year learned quite a bit about technical analysis. Never did figure out a system that worked for me consistently, though, and ended up with losing trades. So I quit for quite some time.

I just got back into it the beginning of last week. I'm doing things very differently now (with a demo account, of course) and last week made +492 pips. I was setting very high stops and felt I should be more conservative with them, so on Monday I made sure to set my stops between 30-35 pips. I had 5 trades stopped out. Set another trade with a higher stop at 50 pips. Stopped out. So I had a very bad losing day on Monday, about -250 pips, each stopped out with set stop losses. In each and every one of these trades, if I had not set a stop, they would have turned around and gone into profit later in the day. (and yes, I would have had the margin to cover the drawdowns)

Started back up again last night, this time did not set any stops at all. Since last night I am +192 pips so far (closed trades). One of these trades went to about -80 before it turned around and went into profit. I have 3 more trades still open, and each are in the -20 area, but are heading again in the right direction.

So I am just curious if anyone else has had the same experience? I only trade intraday, maybe that has something to do with it. I am aware that at some point this may not work out, but it seems that it works out better for the most part with no stops (as long as you have enough margin, of course). I realize this would probably not be true on longer timeframes, but it seems to work pretty well within a several hour period.

I've also found that (for me, at least) it is much more difficult to recoup a loss on a closed trade, than to just let a losing one keep going until it turns around and becomes profit again.