
- | Joined Feb 2009 | Status: Member | 29 Posts
I draw a line for u... a support line.. not a resistance one..
Winners scale winners, losers scale losers 12 replies
Letting winners run 5 replies
Do you believe fixed stop-losses cause losses in the long run? 16 replies
Cutting your risk, letting your profits run 7 replies
Letting profits run 30 replies
DislikedWe all hate losses and naturally avoid them; likewise everybody loves a winner. The problem is that this kind of thinking leads to holding onto losers and cutting winners - maybe that's why it's so hard to follow the old trading axiom, "cut your losses and let your winners run". This isn't the only, or even the best way to trade but there is logic behind it. It seems simple enough and makes sense.
[font=Veranda]The answer could be to change the way you think about losses; more specifically, love your losses....Ignored
Dislikedit true u have to love your losses but theres no need to accept them when u noe u can try for break even. Every1 can rem the december09 - jan 10 period where eur/usd plunged about 1000pips from about 1.45(i was down about 700pips). thanks to the recovery system by nanningbob, i didnt take the loss and instead applied his recovery system. just kept buying at multiple levels and finally the 200+ pip retracement at 1.35ish came n i was out with a tiny profit. so cut losses hmm unless its really extremely against u like more than 1kpips let ur winners...Ignored
DislikedWe all hate losses and naturally avoid them; likewise everybody loves a winner. The problem is that this kind of thinking leads to holding onto losers and cutting winners - maybe that's why it's so hard to follow the old trading axiom, "cut your losses and let your winners run". This isn't the only, or even the best way to trade but there is logic behind it. It seems simple enough and makes sense.
[font=Veranda]The answer could be to change the way you think about losses; more specifically, love your losses....Ignored
Dislikedthe key is not necessarily always letting your winners ride, because depending on the market environment you might give back all your winnings it really depends on the situation.Ignored
DislikedWe all hate losses and naturally avoid them; likewise everybody loves a winner. The problem is that this kind of thinking leads to holding onto losers and cutting winners - maybe that's why it's so hard to follow the old trading axiom, "cut your losses and let your winners run". This isn't the only, or even the best way to trade but there is logic behind it. It seems simple enough and makes sense.
[font=Veranda]The answer could be to change the way you think about losses; more specifically, love your losses....Ignored
DislikedMost of the time, cutting your winners short is a problem of panic'ing mid-trade through and bank those few pips in "just in case". That's where the importance of having a sound Trade Plan with your exit levels clearly defined comes in place, and then of course having the discipline to stick to that trade plan.Ignored
DislikedI'm new to trading been reading these boards some people say to keep tight stop losses and some people say to stick with trades longers. What do you guys recommend? ThanksIgnored
DislikedI'm new to trading been reading these boards some people say to keep tight stop losses and some people say to stick with trades longers. What do you guys recommend? ThanksIgnored
DislikedEveryday i look at daily candles, i see it, huh, there some candles bigger than the other, i mean the body (open and close) you get it? i can buy or sell for whatever, but i will put my stop above high or under low, without the take profit, and i will take profit when the day end.
The situation is:
My losses are always limit, because i set it before
My winnings are unlimited, because there are days those are bigger than the yesterday
You sense it, it's easy and i don't need to be a good charter or expert, just click buy or sell and set some limit...Ignored
DislikedI mean each day you can choose a buy or sell based on the previous candle, not enter both buy and sell, if previous candle up you buy, down you sell, neutral you do nothing, you can filter with some candle in same range then you have no trade, you wait until a candle close outside then you enter
[i]
"Question - at the end of the day, if the trade is still open, but negative do you close or let it ride another day?...Ignored