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kieran (snapdragon1970)
Jan 14 2018 at 00:09
1945 posts
I have my doubts about it dropping ,bias is bullish so it's safer to buy dips that way we minimize risk.

"They mistook leverage with genius".
mlawson71
Jan 14 2018 at 14:29
1487 posts
snapdragon1970 posted:
I have my doubts about it dropping ,bias is bullish so it's safer to buy dips that way we minimize risk.


I am long on it too, so let's hope we're both right. :)

kieran (snapdragon1970)
Jan 14 2018 at 17:09
1945 posts
Every trade is a role of the dice,only way we stand a chance is to protect our capital with small losses so when we get it right we capitalize,being right or wrong isn't that important ,sticking to our plan is.

"They mistook leverage with genius".
mlawson71
Jan 15 2018 at 16:11
1487 posts
snapdragon1970 posted:
Every trade is a role of the dice,only way we stand a chance is to protect our capital with small losses so when we get it right we capitalize,being right or wrong isn't that important ,sticking to our plan is.


That much is true, certainly.
Sometimes I wonder what is worse: multiple small losses or one big loss.

kieran (snapdragon1970)
Jan 15 2018 at 16:42
1945 posts
Easier to deal with small losses that way we don't get emotionally attached as much ,big losses knocks your confidence which encourages revenge trading,doubling up is a common problem too,if we have a big loss we stop for the day or reduce the trade size to minimum.What most retail traders do is try to catch a few pips with huge stops or no stop.It takes time to form the right habit,but its not to difficult to teach,I know some professional traders that get someone else to set there stop loss limit or its set automatically.

"They mistook leverage with genius".
Holder
Jan 16 2018 at 15:49
5 posts
One big loss means that you risk management is rubbish and your Lot size / stop loss is probably too large
Multiple losses means that your strategy is BS

mlawson71
Jan 16 2018 at 16:24
1487 posts
snapdragon1970 posted:
Easier to deal with small losses that way we don't get emotionally attached as much ,big losses knocks your confidence which encourages revenge trading,doubling up is a common problem too,if we have a big loss we stop for the day or reduce the trade size to minimum.What most retail traders do is try to catch a few pips with huge stops or no stop.It takes time to form the right habit,but its not to difficult to teach,I know some professional traders that get someone else to set there stop loss limit or its set automatically.


In my case my confidence takes a hit either way. Multiple small losses one after the other erode it gradually, a big loss breaks it suddenly, but the end result is the same. :(

kieran (snapdragon1970)
Jan 16 2018 at 19:59
1945 posts
Do the maths to see which trades are easier to recover from ,small losses chip our confidence a little,that's part of trading for even the best.Although leaving us still able to make reasonable judgement's.I know when I trade I will have maybe 2-3 small losses daily,some days I will do 1 trade and profit,I don't know which days I will win or lose,but I do know what my max loss will be for a set day.What catches a lot of traders is they need to let those winning trades run as much as possible or we are defeating the purpose of putting on the trade in the first place.

"They mistook leverage with genius".
mlawson71
Jan 17 2018 at 16:20
1487 posts
I shorted at 0.8870 today and I have set the TP at 0.8830. Do you think it will fall to 0.8800?

kieran (snapdragon1970)
Jan 17 2018 at 17:01
1945 posts
I would bounce out at 88440 because as you can see it goes back up to play off the MAs

"They mistook leverage with genius".
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