Hey Tim Berry The other thread is still here- $500 to freedom .
Yo Pip That $5000 in a week was just lucky, But starting with $500 to making a fulltime income is what I plan with a live account someday. My plan says it should take 14 to 16 weeks, Thanks for your input, I'll read that book by Van Tharp,
you would think by now I would know to place stop/loss in every trade, but no, So what happens, I go to restroom and when I get back the Eur/Usd shoots up over 230pips in about 3min blowing my account, I hope when I go live I PUT IN MY STOPS STUPID!! needless to say Stop Playing II https://www.myfxbook.com/members/TheForexFox/stop-playing-ii/200443
Ya well. I also traded through that and my accounts hit new highs.
What was your intended trade? Euro or USsd, see that move was Eur. Had you had a diversified USD position you'd have survived. But you had a EurUsd which is both a Euro and Usd position with to big a trade on it.
Trade sizes, diversification. Risk management, you could use a hedging order as a stop in a different pair. Using an actual stop is pointless. But of course to hedge properly you need to understand trade values and so on...
It's really not about where you put down the trade. It's about everything else...which is much more than a stop.
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