Would you agree that sometimes the best trade is the one you don’t take? There are times I look at the chart and see no trades. This goes against the notion that you can have a trade at any time.
yes indeed - same here
it does (but that’s never been a sensible or realistic notion at all)
i’m not quite sure what you mean by that - but often one that wasn’t quite an entry for me turns out with hindsight to have been a very good trade; the way i always look at that is that if it wasn’t an entry according to my entry-parameters and/or risk-management-parameters, it may still have been a good trade for someone else’s system instead of mine (which i have no problem with at all, of course), but it’s not too relevant, really, if it wasn’t an entry for me - no harm at all in missing one, anyway: there’ll be plenty more!
What I mean is that it is better to not take a trade than to take a bad trade. A bad trade may be one that doesn’t follow strategy which usually will end up in losses.
Its very possible to always be in the market, on every pair. Looking at every chart, there’s always a logical reason to buy and a logical reason to sell. And if you’re unsure which is the more powerful reason, just set both a buy order and a sell order and let price action decide for you.
But its hard to say that this is definitely the best way to trade.
Do you mean a bad trade that go against you hmmmm you do not know if the trade is bad before you enter your trade
and if that is the case your SL will be activated i hope.
Have a plan and a strategy and follow it like a copy/paste thing and yes its better not to take a bad trade, wait for it and let the market come to you and you lock and load and “fire” when your rules in your strategy are met, if i understand your question correct
Its very possible to always be in the market, on every pair. Looking at every chart, there’s always a logical reason to buy and a logical reason to sell. And if you’re unsure which is the more powerful reason, just set both a buy order and a sell order and let price action decide for you.
But its hard to say that this is definitely the best way to trade.
The best way to trade is when your winning strategy and strict process is applied to every trade you make. No deviations, trust what makes you profitable.
Bad trades are mostly caused by overtrading, revenge trading, and gambling.
Totally agree with that. You should realize that sometimes you need to calm down and take deep breath, looking at chart and doing nothing.
Not every market scenario or chart pattern in trading offers a profitable chance, so it’s important to be cautious and avoid unprofitable trades.
If you are a starter, the best trade for you would be the trade that you make by yourself!
Do not copy or join Telegram channels; just wait for your own strategy and trust it, and then it will get better and better!
A very effective way to trade is to sit on one’s hands. Random trades and chasing every market movement make up a greater percentage of the rate of blown accounts.