Proper Trade Management can be a game changer.
and about stop loss, I personally prefer to be hunted by market than moving my initial SL and make my losses bigger and bigger.
2 Likes
Stop loss defines the level where you exit position (with a loss that is known in advance). Important aspect of stop loss that it has to be tied with scenario where you accept that you was wrong on your trade (market conditions have changed, some bad news arrived, etc.) and you have to clearly explain for yourself what should happen to make you admit that you was wrong about your prediction.
Sometimes I extend the pips of stop loss when I see the market may reverse and it is useful sometimes.
2 Likes
To be honest, I agree that this does happen with cryptocurrency and stocks, but about metal and fiat currency, i really can not accept it, the price for them is really hard to manipulate.
1 Like
mhm, next time you should more attention to data provider, but I am not surprised, you are completely green in the subject of trading, so how could you know that? Rhetorical question 
I have bad news for you kakofonix, the forex market verify your “skills” and knowledge if you ever get any.
One more thing, you are not allowed to respond to my posts and topics because I don’t like spam.
1 Like
No need to wait for the stop loss to be hit! You can close the trade anytime. You can also try using a trailing stop loss for added flexibility.
Work on this. It’s not as easy as it may first appear, but I think it’s a difference maker.
1 Like