Hi guys, im a new trader and i recently lost a trade that i felt should’ve won, but the market respects no one am i right ?, anyways, i wanted to get some opinions from some of you in regards to entering back a trade. This is for day traders by the way, but yea do you guys enter back the trade when you see another set up that meets the criteria of your strategy after a loss ? or do you leave it at that and just come back again tomorrow ?
Would greatly appreciate hearing from you guys !
If you are a trader you trade. Yes I would reenter if I thought the premise of my thinking was still correct. Sometimes we enter too soon and sometimes we enter too late. You will never get it right everytime. However it’s important to recognise when the re-entry is valid and not just a revenge trade.
Cheers
Blackduck
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Thank you for your feedback !
If the criteria of your strategy or edge are met then yes you should be taking the trade regardless of what has happened. Otherwise you are going against your strategy based on emotions. Just think… if this were an EA would it enter this trade right now? If yes then do it, if no, don’t.
Having a strong strategy in terms of entry and exit helps.