DislikedI know you know the good thing here is you got out with profit - that allows you to sleep easy and look for the next trade, maybe even a reentry on this one. It's the unprofitable ones that are upsetting, hard to forget, and make one uneasy to take the next trade, being a big psychological hit - I despise those.Ignored
have done MUCH better since reducing my size and just using a mental stop when i feel its not coming back anytime soon (and i know im still going bigger than some people like geppy, but i plan on gradually reducing the size as the account grows). It all means i can sit out that 100 pips the wrong way, being pretty uncomfortable that is wiping out yesterdays profits and maybe more, but knowing i have the time for it to come back my way, and/or to average out or add to it at a better price. its got me a profit from a trade most people got stopped out on so i cant complain.
the difficulty comes when it goes 100 pips the wrong way, and keeps going. then you add to it when it looks like its going to retrace, and it still keeps going. then youre in serious trouble. perhaps its better to just have a 50 pip stop or so....but then id have lost this trade.
