With regards to forex, i got fooled more than once recently...
It's something like as soon as you as convinced that price is going up, it proved that you are wrong and moved much more lower than it went up... Sometimes i wonder how can not all fail at this craziness.. :)
Of course i am talking about eu here... Looking at the weekly, i was convinced it's all BUY having crossed the weekly centre bollinger. But I was wrong.
I could be wrong again in the future. Cause price keeps moving. It could be moving away from the bigger money... Who knows?
Example : if collectively, there are 1.2 million lots BUY on EURUSD, and 2.5 million lots SELL on EURUSD, the price will favour moving up, away from the bigger money... That's a simple way to make money if anyone knows and could control the market.
Treat your winning trades like your losing trades.
:( When you have a losing trades, you have hope that price will turn around back into your favour. You will have that drawdown so big that it will be too late. :( When you have a winning trade, you are so tempted to close it so that you can realized the profit. Eventhough it has not reach the maximum profit potential. You are also afraid that you will lose the profit if the price goes against you before you are able to close your trade.
These are some of the main causes people lose in trading, close winning trades prematurely and hold losing trades for longer that you should.
:) Stop Loss places on every trade as an insurance in cases World War 3 or Ecomic Collapse happens and your not at your desk. Taking stop loss should always be on your mind and it is fixed. If certain situation happens, take stop loss automatically. An encouragement could be that you can entee the trade at a better price at a later time. :) Take Profit target should be placed on every trade to visualize your end goal to help remind you that there is so much more that you can make instead of listening to that instant gratification voice in your head.
Stop loss would not work in some cases like in the event of 15 January 2015 Swiss National Bank stuns market with policy U-Turn that caused some of traders , hedge fund managers even brokers such as ALPARI UK to go bankrupt .
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.