Dislikedyes you right, in many case on me, hope won the war , very nice mate....how we should manage our emotion and think more logical about risk we are facing....you show me, which one i have to improve .....thank you mate.....Ignored
in my case i just put a PO for the position and wait for it..
by doing this, you might miss a trade or two by 1pip, but that's ok.. never chase the price. if you do that, you trade "impulsive trading" which is not good practice..
let's say if you trading gj, say you want to short, but the highest fractal from a reasonable entry is 100 pips meaning that you have to have your stop about 115 pips or more. to me that's not reasonable and i don't like to have a 100 pips of drawdown, that is one of the reason why i trade mainly on the majors..
think about this, the stop is not only to protect your capital, but it is the price where invalidates your initial analysis.. so if you're stopped out, meaning that you're wrong.. if you find the price move to your direction and you has been stopped out, meaning that your analysis of the price is wrong and you have to improve your positioning in trading.. try to get as close as possible to the stop..