Hello,
Anyway I wish to let you know on a controversial issues that has been damning around us retail traders and brokerage houses. They recommend stop losses while I found out from a community of retails traders that brokerage houses feed on us by hunting our stop losses and we always feel that we should be more patience and extend our stop losses. My friends and bros don't use stop losses if you are monitoring the chart only place stop losses when you are unable to view it and also use mental stop loss this way you won't get hunted down.
The book above mention about 23 rules to be a Master Investor. Rule #1 says that preservation of capital and #2 passionate about risk averse. This 2 rules lead me to do research on my current system about the following action:
#1.Preserve capital: How to make orders in such a way whereby I won't lose my money or my winnings.
#2. Passionate about risk averse: How to increase my risk to reward ratio to 1:3 or even better no drawdowns just profit.
But the above has reduce my risk profile and also my rewards. Mostly my pips accumulated is roughly between 5 to 10 pips but my lots size are 5 to 10 lots.
So there you have it.
Anyway I wish to let you know on a controversial issues that has been damning around us retail traders and brokerage houses. They recommend stop losses while I found out from a community of retails traders that brokerage houses feed on us by hunting our stop losses and we always feel that we should be more patience and extend our stop losses. My friends and bros don't use stop losses if you are monitoring the chart only place stop losses when you are unable to view it and also use mental stop loss this way you won't get hunted down.
The book above mention about 23 rules to be a Master Investor. Rule #1 says that preservation of capital and #2 passionate about risk averse. This 2 rules lead me to do research on my current system about the following action:
#1.Preserve capital: How to make orders in such a way whereby I won't lose my money or my winnings.
#2. Passionate about risk averse: How to increase my risk to reward ratio to 1:3 or even better no drawdowns just profit.
But the above has reduce my risk profile and also my rewards. Mostly my pips accumulated is roughly between 5 to 10 pips but my lots size are 5 to 10 lots.
So there you have it.
Forex Price Action Hacked - Price Action Rockstar
