As I am learning the longer time frames, I have noticed draw downs start to become much larger. We all know it's impossible to predict tops/bottoms and why draw downs are necessary, even if one has mastered keeping them minimal.
I have been demo trading on the longer time frames, and as such, my entry points are rather horrid. This is something I will continue to work on... however for testing purposes I have let draw downs continue on to see how far they go back before I decide to close out the order. I am usually around 50-100 pips. On a live account I don't think I would ever stand for such a draw down, but when you are attacking these larger time frames what can one do?
What has been your biggest draw down that you have let run, to let it turn into profit? At what point do you normally abandon a position for a better position since you have gone to far negative as it is...?
Looking for thoughts, experience, nightmares that you all have experienced.
I have been demo trading on the longer time frames, and as such, my entry points are rather horrid. This is something I will continue to work on... however for testing purposes I have let draw downs continue on to see how far they go back before I decide to close out the order. I am usually around 50-100 pips. On a live account I don't think I would ever stand for such a draw down, but when you are attacking these larger time frames what can one do?
What has been your biggest draw down that you have let run, to let it turn into profit? At what point do you normally abandon a position for a better position since you have gone to far negative as it is...?
Looking for thoughts, experience, nightmares that you all have experienced.