Wise words Nydorenn
Doubar yes definitely
Yep, no stop loss can hurt. . . . can hurt a lot!
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This sounds like you are speaking from experience here!
You should be ready for winning as well as loosing.
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Yes be patient and except losses - thank you
You are always welcome mate! Although, I’m little bit late. Have a great week.
Have a good week too
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it sure does, i ended up losing 75% of my bank cause i just couldn’t bring myself to accept i got it wrong.
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totally agree those are essential rules good shout
how did you start to make the changes once you accepted it?..these are areas i can tune with my trading
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One of the golden rules would be the psychology in trading, the only thing we want to emphasize here is that you must act with great prudence because being overly greedy will inevitably lead to a disastrous trading.
We must learn from our mistakes. If our trading strategy after a long time does not prove to be profitable we have to improve it but never try to take revenge to the market to try to take revenge for operations that have gone wrong.
You are welcome Sco; hope you are serious on money management rules!
Hahahaa slightly, always use a stop loss myself but certainly have used stop losses that were too big . Was part of the learning to apply correct RRR
That said during my time in IML I saw some blown accounts and often due to trading with no stop loss.
Always, losing is part of Forex, if you can’t except this you will never win
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Have you managed to turn this around?
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A lesson learnt though : )
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This is pretty common
Precisely right
Best wishes for you. My objective is always to keep my position safe even if my trading lot investment is smaller. I want to keep my investment within a limit that I can actually bear as per my ability. And as a risk adverse investor I tend to favor short term trading strategies.