Hi all! My first post here so apologies if this is the wrong spot to ask but I’d say it’s a beginner question because it’s definitely coming from one. I don’t trade forex(?) I’ve been demo trading ES #F(U) (Also forgive me if this is the wrong forum and place to be.) Reaching out beyond my trading group i’m into to ask questions.
So now for the question!
In the trading group they have a strict rule of gain 4 with a stop of 3.
Do I have to have stops? Sometimes the candlesticks go below the stop of 3 but then of course go back up to make profit. That’s losing money when I could have still been profitable.
I’m sorry if my question wasn’t clear, on my phone and it is kind of a ramble.I have e-mailed a mentor of the group and asked this as well but I’d like others opinions on it. I’m still learning! (Always.)
Definitely not knocking my groups learning, I guess i’m just trying to understand why the enforced rule of losing 3 when sometimes 3 isn’t enough. Or… maybe I just haven’t learned something yet.