I think the readers here will really appreciate if more comments about when to cut losses and when to exit losing positions can be given. I don't see any risk management except: "use small lots" which in itself doesn't solve the problem if the market keeps moving against you.
The size of the loss is the only thing traders can really control, so would really appreciate more sharing on how to manage losses, cut losses, exit losing positions based on PVRSA instead of keep adding because "it's just MM accumulating orders."
Taking a loss is always painful, but that doesn't mean we should avoid talking about it because the alternative is worse.
Me personally, I have went down that path of putting on small positions. It works, but only if you have a super large account and you are using super small lots. You can do well if you filter your entries to only take trades that align with the 4H trend, and to cut losses once these trends end, but I guess that is not the PVRSA way. But you know what works better, actually predefining your losses/risk and trading classic set-ups with maybe 1 or 2 scouts with SL. I just think it's time to stop pretending that the price risk (i.e. a move against you that could potentially margin call you) isn't there, because it is very real.
I believe if we put our minds to it we can finds creative ways to use PVRSA to manage losses very effectively, and get out losing positions before they grow large + protect profits before they disappear, because let's face it, making money is darn easy, any idiot can make a winning trade, it is keeping it that is hard.
Please think about this; let's not leave it to luck.
just some honest thoughts and hope that everyone here can really do well.
The size of the loss is the only thing traders can really control, so would really appreciate more sharing on how to manage losses, cut losses, exit losing positions based on PVRSA instead of keep adding because "it's just MM accumulating orders."
Taking a loss is always painful, but that doesn't mean we should avoid talking about it because the alternative is worse.
Me personally, I have went down that path of putting on small positions. It works, but only if you have a super large account and you are using super small lots. You can do well if you filter your entries to only take trades that align with the 4H trend, and to cut losses once these trends end, but I guess that is not the PVRSA way. But you know what works better, actually predefining your losses/risk and trading classic set-ups with maybe 1 or 2 scouts with SL. I just think it's time to stop pretending that the price risk (i.e. a move against you that could potentially margin call you) isn't there, because it is very real.
I believe if we put our minds to it we can finds creative ways to use PVRSA to manage losses very effectively, and get out losing positions before they grow large + protect profits before they disappear, because let's face it, making money is darn easy, any idiot can make a winning trade, it is keeping it that is hard.
Please think about this; let's not leave it to luck.
just some honest thoughts and hope that everyone here can really do well.
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