Ok so hit my stop-losses, left with 500 now from my 700 - which is still a good return on my initial capital of 80. I need to work on how to decide when to take profit when to let it run. I wonder if there is some strategy on it? Maybe something like x = profit potential/capital at risk?
One more thing - I have been considering my capital as 80 when putting on these trades.. should I consider my daily capital as capital + previous days profit ..for ex in this case 700 as my capital and then from there on I am on a 200 loss rather than considering 80 with 420 profit?
mylin you are in similiar situation as I was. I have lots of success. After few months. After that i fell back close to start. It happend to me 3 times. Still dont know what to change in my mind to go throught cash barier. But one thing I know. at one moment I had thoughts like. Ok this is still good profit. This is exactly what you have to try get out from your mind. Dont focus on cash. Like me and in my mistakes. May be this is a key to break it. And continue in profit without hurt. Try keep focus on your traiding method. And one more think. Try risk just same like when you start until you break it. And then you add just small piece to margin. So ... imagine you have just 80 pounds. And use THEM. Not your profit. Now you will risk much less then before. And if you will be good in your method may be you can go throught you fear. Iam on the same ship. This is what i found in my mind. So Iam tring do this. And yes. I see small steps forward Iam happy for it. But still many to work.
in my case most of my profits came from adding to winning positions, some points it seemed they were not winning but i didnt take profits.. i let it run then they became profitable again and I added extra positions - so overall my profits were huge.
Ok so I had put on 2 new trades eurgbp again as the trend was intact and usdcad again for the same reason - I am going to take off usdcad as you mentioned elerik not to risk the profits. I have managed to move my stop loss such that I make a quick profit out of it given the current jump, will stay in until it hits my stop-loss. so lets see how it goes this time.
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