Thanks all for your responses.
Just to share, I do have a 200 pips "protection stop" in place to protect my account in the event of sudden spike induced by CBs. By rescuing a losing position I meant to :
- BE ,or
- be in the new direction (trend change), or
- minimise loss
Loss is expected for any business (forex too), but we can always reduce it if managed properly which I'm seeking now.
All tradings end up either in profit or loss. If we can manage the loss, our equity growth will improve tremendously.
Hedging/locking in same pair will lock the "loss" till we determine what to do next. I consider quite safe as the "loss" is a constant, but will have to make sure the losing account does not hit margin call. No issue for me as this is an important component of my money mgt. The only problem I see is that part of my capital being used to hedge, thus its opportunity cost.
Would like to know if anyone has used Nanningbob's recovery method : 1,1,2,4 or 1,1,3,3, can share your experience please ? Or any prevailing methods.
Thanks.
Just to share, I do have a 200 pips "protection stop" in place to protect my account in the event of sudden spike induced by CBs. By rescuing a losing position I meant to :
- BE ,or
- be in the new direction (trend change), or
- minimise loss
Loss is expected for any business (forex too), but we can always reduce it if managed properly which I'm seeking now.
All tradings end up either in profit or loss. If we can manage the loss, our equity growth will improve tremendously.
Hedging/locking in same pair will lock the "loss" till we determine what to do next. I consider quite safe as the "loss" is a constant, but will have to make sure the losing account does not hit margin call. No issue for me as this is an important component of my money mgt. The only problem I see is that part of my capital being used to hedge, thus its opportunity cost.
Would like to know if anyone has used Nanningbob's recovery method : 1,1,2,4 or 1,1,3,3, can share your experience please ? Or any prevailing methods.
Thanks.
Forex is my business