As long as you follow the four rules I outlined,
1. Calculate the risk per trade. For example, if I use a lot size of 0.01, how much risk do I have of losing money and how much profit can I make? For example, RR 1:2.
2. Is the market volatile? Use ATR/ADX/Market Display Monitor.
3. Am I entering based on my strategy or based on emotion/FOMO?
4. Are the fundamentals safe (is there any high news or is the currency experiencing anomalous behavior?) For example, JPY, this currency tends to fall or rise continuously without any resistance.
-> you can create your own rules later once you're comfortable with your trading journal.
Losses won't be as scary as losing streaks if you follow the rules correctly.
1. Calculate the risk per trade. For example, if I use a lot size of 0.01, how much risk do I have of losing money and how much profit can I make? For example, RR 1:2.
2. Is the market volatile? Use ATR/ADX/Market Display Monitor.
3. Am I entering based on my strategy or based on emotion/FOMO?
4. Are the fundamentals safe (is there any high news or is the currency experiencing anomalous behavior?) For example, JPY, this currency tends to fall or rise continuously without any resistance.
-> you can create your own rules later once you're comfortable with your trading journal.
Losses won't be as scary as losing streaks if you follow the rules correctly.
I know that the more I know, the more I don't know
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