To the original poster, I am in a similar position as you are. I am Canadian but spend a lot of time in North India where the power goes out about 3 times a day.
As for me, I have triple backups. I have regular DSL wi-fi, a dongle and 3G on my phone I can use as a hot spot. As far as power goes, I have a UPS backup (power inverter). I am sure you can get it in Belize City. Also, if my computer goes down, I use my tablet or phone.
So even in a 3rd world country like India, and having been here for over nine years, there has not been a time when I did not have access to the internet.
All that said, good luck to you!
…Oh, and yes, I use a stop loss every time for every trade
To me, when someone says a stop loss is NOT a vital part of trading, it always makes me question who is that person saying that. You just don’t know the extent of the experience of that poster or complete lack thereof.
It is like someone saying hey, seats belts are not necessary, they are uncomfortable and restrict your movement, I prefer to drive free because I can count of my reflexes to get me out of a jam.
To all new traders reading this, all I can say is be wary when some makes claims that take the safety out of an already highly unpredictable and risky venture. Keep your cup on boys, you never know when the hockey puck is coming for your family jewels.
Your risk is the only thing you can control, nothing else. If you have a proper entry signal, then there must be a point, where the structure of your setup is compromised, thus your edge on the market diminished.
This is where you put your stop loss. If it happens, that your entry setup was not successful, then there comes the stop loss, which pulls you out of the market.
Yes, stop hunting is an existing phenomenon, and it sucks to see your setup play out after the market came back first to take you out. It happens with everybody. Although if it happens a lot, you might have to revisit some parts of your strategy.
But not putting stop loss, getting locked in a bad position, and praying that the market turns around so you can exit at breakeven or with smaller loss sucks even more. Usually the market wont come back just for you.
A stop loss ensures your money management is in place. If you don’t use a stop loss, then you entire account will be exposed to market. A major news event can even blow your account.
Yes its fact , there are unsure moment in the forex market especially when there are big impact news , this make many trader get big loss when not place stop loss as secure tool .
