We are often correct more than we think about the short term direction the market will take, but not about how it gets there. It’s often that random walk between buy point and TP that triggers stops if they are not wide enough. I use v wide stops, when I use them, unless there is a really compelling reason not to (i.e about to trigger a margin call etc)
If you look at historical charts, even if on the longer time frames it looks like the price is going hard in a certain direction, if u zoom in there is still often a large amount of up and down.
2 Likes
Yes there is always supply and demand at every price point and it is impossible that the imbalance will always be on one of the sides. Our goal is to predict how that imbalance will change.
1 Like
Thank you for your advice @Blue2!
If I set the SL is wider, in worse case I think it’s quite a big lost for me. Instead, I think I should find a better entry strategy.
1 Like
That’s sensible - you know what losses you can afford. Alternative could be smaller lot-sizes instead
2 Likes
Yup, small size is good ideal for me at this time, 
Very good point. Random walk between buy point and TP. That’s a great way to put it.
And for me, that random walk often confuses me like crazy! It’s very frustrating.
1 Like
Hi,
I update the result for 2 weeks from 24/10/2022 to 04/11/2022
It took me 10 weeks to double my account. My next target will be $1,200.
2 Likes
Great news! Keep going! I’m glad to see some positive results. Keep doing what you’re doing.
Has your psychology changed at all? Do you think you’ll increase lot size to match your larger account? 1% risk is 1% risk, no matter account size, right?
1 Like
Thank you for your encouragement, @dushimes!
Yes, my psychology have changed, I feel more confident when I trade. Recently, there is no big lost and more big win. I think I will increase the lot size to 0.02 or 0.03 for each trade. Yes, risk should be small and I hate the big lost.
1 Like
Hello there, Panda Forex. I am very interested in seeing your progress and learning from your experiences. Thanks
1 Like
Thank you @Bonzery!
I’m planning to update my result when I reach the next target, $1,200.
Currently, I’m trading according to price action, candlestick with support and resistant zone. One of my experience that I can tell you that always has stop loss for each trade and try to protect your capital. Because after a big lost, you have to spend a lot of time to recover your balance.
Hope it help and best of luck!
1 Like
Excellent post!
1 Like
I can give me the challenge
1 Like
Yeah, let try then you can see what you can do.
1 Like
How’s it going? Any updates? I look forward any news on your goal.
1 Like
Hi,
Happy New Year!
Well, I’ve just reached my goal $1,200 yesterday. I will update the result soon,
3 Likes
GREAT!!! That’s great news!
Happy new year to you too!
2 Likes
Any updates?
Well, I have worked too hard to recover the lost last time, 
. I have reached $1,200 target at the time I told you but it lost again. Still need $0.30 to reach $1,200, 
My next target will be $2,400.
How is your trading? Did you have any special plan for this year?
2 Likes