Second thing. I noticed when you said you are spending 2 hours a day on the charts without indicators.
I was doing everything possible before and kept losing money. I think I have a fairly decent knowledge for a noob. The moment I started trading a larger time frame. 4hour to 1 day with low lot sizes and not sit infront of the computer all day I started to make money. It's a nice change...I set it and go surfing and come back. Sometimes in the negative but more times in the positive...
what do you do about stop losses?
The ForEx giveth and the ForEx taketh away. (more taketh than giveth).
Second thing. I noticed when you said you are spending 2 hours a day on the charts without indicators.
I was doing everything possible before and kept losing money. I think I have a fairly decent knowledge for a noob. The moment I started trading a larger time frame. 4hour to 1 day with low lot sizes and not sit infront of the computer all day I started to make money. It's a nice change...I set it and go surfing and come back. Sometimes in the negative but more times in the positive...
what do you do about stop losses?
Ignored
It is a pattern I am familiar with, although I am not a surfer (I know I am a disgrace to all Australians). I put it down to the release of pressure, a higher timeframe, reducing and customising lot sizes to stop placement so that you always know your maximum risk and not "riding" the trade lets me detach from the trade and stops me feeling a sense of ownership to a decision. This makes it easy for me to move on to the next trade even after a string of losses, such as the 6 straight I had in this example period.
In terms of stops, I price determines them, usually, if possible I place them two protected areas back, by this I mean, instead of placing a stop on a long position below the nearest previous pivot low, Ill place it behind the next previous pivot low, i.e. two pivots back, this usually keeps me out of stop runs and usually means my original trade thought was wrong in the first place, exactly the time I want to be out.
I am not inferring that I always place stops behind pivots, sometimes other areas are more approriate, but just trying to demonstrate the concept of "two back".
You can quit and they won't care, but you will always know.
I'm sorry your body's giving you more probs.
But I'm more interested in your naked mind than your naked bod!
So its great news you've got some connections Akuma!!!
Look forward to more of your leadership...serious price movements are ahead!
