Disliked{quote} How far would you cut your loss....A third negative? Half negative? would be good to know this from people who done it. Market structure is definitely what I need to work on, identifying consolidation, s/r etc...Ignored
That is a strictly personal decision. How much are you REALLY willing to lose in a single trade? Does your loss rate with that loss level enable your account to grow at a "reasonable" rate, or does it show that your account will eventually be drained?
In some cases, you may have decided that you are willing to lose 1% of your account on a trade, but then after the trade goes negative but still far from 1% loss, you see price stall and ATR drop significantly, you might decide to simply cut the trade there because price is hardly moving at all, and you prefer not to wait to see which way it breaks out of the consolidation.
A "purist" would simply set his SL and not intervene on a trade that is running negative, because he has already run the statistics for his system and knows that in the long run, he will grow the account.
To free Gazans of Hamas, use whatever it takes.
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