When you make a trade and it goes wrong… turn the other way. When an how do you get yourself to accept that the trade is over and to take your losses. I find myself saying that, it’s going to turn… it’ll turn and then in the end I see a big NEG sign…
well…when i usually trade, i just take into account my mm stratagey. what am i willing to loose in order to gain profit. Ive learned you cant be emotional in this game…just get out if a certain % of your account has diminished. never tell urself that its just going to turn around. look at the indicators…if they all line up and say that its going to turn then let it ride, but if one indicator says otherwise tha its too risky for me. its better to settle with a small loose, than to be out 25% of your account because you thought it was going to turn around…just my two cents.
You determine that before you make a trade not after. I think you might want to do that before you enter a trade. Its all about having a plan.
I go back and see what the usual negative goes before it turns around for profit. So for my trading, I put a stop of 50 pips.
But I only enter trades if stoch is in the middle between 80/20 and if at the time it goes up and breaks the 80/20 and then breaks it again to turn around, I’ll exit then regardless of whether it’s 50 pips or not.
The the most I’ll lose on a trade is 50 pips but it can fluctuate less.
wow… so what is your projected profit when you enter the trades? 150-200 pips?
20-30 most of the time…focused on the short game
For me, i am having a real difficulty in stop thinking “It will turn back…yes, it will…”
maybe, thats the reason why my account size still the same after 4 months…