Anthar
Thanks for another informative post, I for one will read it over and over!
I'm happy with the following...
1. Entry of trade
2. PT's (thus S/R lines)
3. Watching PA as trade moves along (still learning here and probably will forever.)
My biggest problem is the following....
I really struggle to put my INITIAL SL, in other words. I do not know how to get out of a trade THE MOMENT AFTER I ENTERED and the price suddenly moves against me.
I assume I should handle it the same way as if I was in the trade for some time and PA then started to move against me.
It's just oh so difficult to exit a trade just after you entered and to admit defeat!
But I assume that is what separates the successful traders from the unsuccessful.
Any ideas/suggestions how to handle this situation?
Thanks for another informative post, I for one will read it over and over!
I'm happy with the following...
1. Entry of trade
2. PT's (thus S/R lines)
3. Watching PA as trade moves along (still learning here and probably will forever.)
My biggest problem is the following....
I really struggle to put my INITIAL SL, in other words. I do not know how to get out of a trade THE MOMENT AFTER I ENTERED and the price suddenly moves against me.
I assume I should handle it the same way as if I was in the trade for some time and PA then started to move against me.
It's just oh so difficult to exit a trade just after you entered and to admit defeat!
But I assume that is what separates the successful traders from the unsuccessful.
Any ideas/suggestions how to handle this situation?