Cable Update (GBPUSD)
GU Trade Ideas Any comment welcome. Englis good or bad , no issue, just write, we can story here. If you cannot "brain" this, just ask question Let hear from each other.... wrong or write (typo) right, nenver mind we learn together. Thank you{image}
{quote} I read a quote somewhere, and it said: 'No one ever went broke from taking profit'. I have to remember that
{quote} I used this during my first 6 months of Forex trading, trying to catch the reversal point in USDJPY because the RSI was Too overbought on 30mins, 2hr, 4hr, daily and weekly timeframe. LMAO, got screwed many timesGlad my positon was not that big back then, i would already blow my account. Hard truth for newbie, if you want to learn how to constantly win in Forex trading, forget everything you've learn on youtube, cause majority of these dumbos took the aftermath development, and subsequently they are so-called 'professional trader'...
{quote} This kind of wisdom can be misleading. Yes, small profit is better than any loss. However, if you tend to take profits early but allow big losses, you will not be profitable in the long run. Also, regret over a trade that could have given you big profits if you waited can lead to negative frame of mind and to the suboptimal decisions. They also say: "let your winners run", which can also be misleading as the price may eventually return to where it started and a winner may become a loser. So every trader has to find for himself the rules...
{quote} I used this during my first 6 months of Forex trading, trying to catch the reversal point in USDJPY because the RSI was Too overbought on 30mins, 2hr, 4hr, daily and weekly timeframe. LMAO, got screwed many times
{quote} I agree. I don't know that the saying is meant to be taken literally though, I interpret it to mean 'Do not hold a trade so long that it turns against you. Take what the market is willing to give you, and be happy'. I don't know if that is correct or not, perhaps it can mean something slightly different to each traders mindset?
