Hi there,
I admit I am a beginner and just learning with a demo. I have read so far countless books on forex and this wonderfull forum and EVERWHERE it is mentioned that whenever you are faced with a loss, just cut them short and go on.
Well over the past two weeks, I have placed about 13 wrong trades which went against me, and instead of letting the stop loss automatically close my position after a 20 pip loss, I removed the stop loss and just left the trade open.
ALL and I mean ALL of my 13 loosing trade eventually turned into profit as you can see from any chart, the prices keep oscillating up and down, and eventually they will come back down or up again. On one of my trades, I was down almost 300 pips and 30,000$ and after 4 days it turned around and I made 1500$ profit also.
So I know I am wrong somewher, but I just want to know why not sometimes let your loosers just get themselves out of trouble?
Thanking you all in advance.
Mohammad Reza.
I admit I am a beginner and just learning with a demo. I have read so far countless books on forex and this wonderfull forum and EVERWHERE it is mentioned that whenever you are faced with a loss, just cut them short and go on.
Well over the past two weeks, I have placed about 13 wrong trades which went against me, and instead of letting the stop loss automatically close my position after a 20 pip loss, I removed the stop loss and just left the trade open.
ALL and I mean ALL of my 13 loosing trade eventually turned into profit as you can see from any chart, the prices keep oscillating up and down, and eventually they will come back down or up again. On one of my trades, I was down almost 300 pips and 30,000$ and after 4 days it turned around and I made 1500$ profit also.
So I know I am wrong somewher, but I just want to know why not sometimes let your loosers just get themselves out of trouble?
Thanking you all in advance.
Mohammad Reza.