Very well said yes but although i am going in extreme off-topic comparing to my question (still noone has answered me), i will comment your statement of:
“If you make a loss…”
I lost everything i had on two accounts but i don’t feel like i am entirely responsible for that. Not blaming one of two (but i do the second one) brokers either. The thing is that my responsibility ends when position gets opened. Not as pending but as active. Obviously i have to do everything what is possible to be done before opening a trade. This is the moment where i am responsible. To make smart investments (i did that), market research (i did that), well created strategies (i did that), appropriate money management - referring to investment decision. I admit i haven’t done the fourth thing. This fourth thing was my entire failure for which i am responsible for and believe it or not, but honestly i don’t think i would choose any different investment this time or next time, even if i just admitted my failure in money management. Why? Because if i succeed in “direction announcement” then i have to get enough profit to form at least minimum salary to live with since i don’t have any other income. People who have it, can afford smaller investments. I cannot because everything depends on trading. But why i don’t feel entirely responsible for the loss is the fact that after position becomes active, i can only watch the trend. It is completely out of my hands where the trend is going. I haven’t put it in incorrect direction (against my positions). It wasn’t me who caused the consequence (opposite direction) for a loss. I did entire work (expect incorrect money management which may even be a key one) before entering active position. Until that moment, its my responsibility. What happens next with a trend, i cannot control anymore. Defined problem can be ‘‘Reversal In Opposite Direction’’ but i haven’t done it. So i am partially but not entirely responsible and its unfair that broker doesn’t refund. Its like being punished for something i haven’t done. How could i know that reversal will happen before having active positions opened? I cannot look into the future. This is just as my comment to your statement that i make a loss. I am respecting all rules of trading, been learning for a long time. But something i haven’t done, shouldn’t punished me in a form of a permanent loss.
In all those negativity and money i have been “partially” robbed from is also a small good thing: All those failures forced me to develop some completely new strategy to try on demo and stay away from indicators that don’t work. They show only past and current happening on trend with zero assurance same will happen in the future. Also stay away from price action analysis because resistance and terminal zones, and also things like indecision candles, are by far over-rated. I am still doing failures even on new strategy on demo BUT there is one positive and one negative thing. Negative is that a lot of time, talking about months, is wasted waiting for position to come to at least zero or minimum profit in order to close it. I don’t want to go in discussion why i am so much eager even on demo account to not close position in a loss but rather waste months of waiting for nothing - basically only for VIRTUAL money to come to zero profit from loss. Positive thing is that i am able to catch where the failure was pretty easy. Considering this failure, i develop new step in strategy or correct previous one. Using new step, the failure (usually) doesn’t occur anymore. New one may but more failures i eliminate, higher possibility of (faster) profit is.
Example: The latest failure i caught was too low distance used where Stop pending position was executed. Referring to the distance which has to be done by the trend so when it reaches this level, stop buy or stop sell becomes market bid/ask and gets executed. I had two opposite Stops, one buy, one sell. The consequence of failure was the following: the trend did a small movement and cause one stop to execute then it retraced to opposite direction where Stop was auto closed. Now it is going to that opposite direction further more and more, causing larger and larger loss on demo. Wrong solution is to think that next time i should simply increase the distance so if the trend moves so little then unwanted Stop won’t be executed yet. Why is this wrong solution? Because we can never know how many points (so what distance) is enough. So the better solution is to develop the method which tells me how do i the quantity of needed points how much away from current market price Stop has to be. I got that idea also and it is involving upper/lower shadows.
By the way: if on this forum is any expert in defining quantity of points for Stop pending orders and would be willing to share his idea, so i can compare it with my, i would owe him for a life time.
You further said:
“showing you something that I know works consistently”
yes i am interested, whatever are you referring to.
