This trade setup was stopped out
I have noticed a trend among retail traders/investors. Once they place a trade and if they get stopped out, naturally they are unhappy with the outcome. Worse, they moved on to other pairs or other asset classes to trade.
More often than not, upon closer examination, it could be a situation of placing too tight SL or having the courage to follow up again and LONG again.
It works for me, I dunno about you. Stick to a few pairs or asset classes and after a while, if you add on your winning positions, you soon realised that you and the chart becomes connected (not in a spiritual way) but you straight away know where you are at certain point in the chart and know what decision to take.
I have also revised my strategy a little. One, to have no profit target since if the market is moving in tandem with me then taking profits too early would means I have to get in at higher price each time and a strong retracement could wipe me out.
Next, adding to winning positions has also proven profitable rather than going into a new trade setup which takes time to do research.
By limiting my exposure to fewer asset class, I become more in tune with the market development and know how to react. Diversifying too widely makes my capital allocation spread too wide without the opportunity to go deep into my profits.
Lastly, slowly I am also increasing my position sizing to take advantage of the trend. IF 1 contract yields 1 dollar then 5 contracts would gives me 5 dollars with the same move. This takes courage and conviction which over time, studying the losses and winners helps me to get there , slowly...........
I have noticed a trend among retail traders/investors. Once they place a trade and if they get stopped out, naturally they are unhappy with the outcome. Worse, they moved on to other pairs or other asset classes to trade.
More often than not, upon closer examination, it could be a situation of placing too tight SL or having the courage to follow up again and LONG again.
It works for me, I dunno about you. Stick to a few pairs or asset classes and after a while, if you add on your winning positions, you soon realised that you and the chart becomes connected (not in a spiritual way) but you straight away know where you are at certain point in the chart and know what decision to take.
I have also revised my strategy a little. One, to have no profit target since if the market is moving in tandem with me then taking profits too early would means I have to get in at higher price each time and a strong retracement could wipe me out.
Next, adding to winning positions has also proven profitable rather than going into a new trade setup which takes time to do research.
By limiting my exposure to fewer asset class, I become more in tune with the market development and know how to react. Diversifying too widely makes my capital allocation spread too wide without the opportunity to go deep into my profits.
Lastly, slowly I am also increasing my position sizing to take advantage of the trend. IF 1 contract yields 1 dollar then 5 contracts would gives me 5 dollars with the same move. This takes courage and conviction which over time, studying the losses and winners helps me to get there , slowly...........
İşlem aktif
at this juncture, do you move your SL to breakeven ? For me , is a NO coz it is still lingering at the 1.1425 level which is also the resistance turned support line. İşlem kapandı: durdurma seviyesi
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.