You need an idea of when to exit. If you do not price will usually come back and bite you.
It is more usual for price to retrace than to move 140 pips in one direction without pause.
Buying back when cheaper requires a different mindset to 'punt and hold'.
Hence 2 more badges towards 'guru' status - I present it to you as blanket fact with no proof to back it up whatsoever.
The email list is building nicely. All are welcome
What happened if you did not take profit on EU??? In that instance did I call the stall point almost to the pip (my haven't I got big b0110cks, of course it was luck!!! Of course it could have gone further)?
How much of your potential for re-investment are you willing to give back in the name of greed when you are still small, when you should be re-investing in safety (your stop)?
It is far far more difficult on single punts to win more 'pips' than you lose. Low win rate and constant stop outs will destroy most traders.
Be greedy when you are large and able to re-invest in your position size, not when you are small. Because it's your job to be small when wrong and large when right but keeping risk constant. This is what gives you R:R, not just the simple notion of 'winning more pips than you lose'. But that helps too of course
Risk 1, win 5-8 over and over but when the market has only moved 4. It's very very simple but a little more sophisticated than the tosser Van Tharp. Tosser of coins of course
Take out the fear, take your profit if it is enough and re-invest when you get the chance.
100 pips off one entry wasn't enough yesterday? Market went 140? Did you know that before it happened?
Coulda shoulda woulda?
If your mechanism for getting out is not a trailing stop (by God it isn't!) then you get out when price is stalling or you have just had a huge move in your favour.
Of interest to the EU short traders but only if you have already made profit, taken profit and can now re-invest profit.
It is more usual for price to retrace than to move 140 pips in one direction without pause.
Buying back when cheaper requires a different mindset to 'punt and hold'.
Hence 2 more badges towards 'guru' status - I present it to you as blanket fact with no proof to back it up whatsoever.
The email list is building nicely. All are welcome
What happened if you did not take profit on EU??? In that instance did I call the stall point almost to the pip (my haven't I got big b0110cks, of course it was luck!!! Of course it could have gone further)?
How much of your potential for re-investment are you willing to give back in the name of greed when you are still small, when you should be re-investing in safety (your stop)?
It is far far more difficult on single punts to win more 'pips' than you lose. Low win rate and constant stop outs will destroy most traders.
Be greedy when you are large and able to re-invest in your position size, not when you are small. Because it's your job to be small when wrong and large when right but keeping risk constant. This is what gives you R:R, not just the simple notion of 'winning more pips than you lose'. But that helps too of course
Risk 1, win 5-8 over and over but when the market has only moved 4. It's very very simple but a little more sophisticated than the tosser Van Tharp. Tosser of coins of course
Take out the fear, take your profit if it is enough and re-invest when you get the chance.
100 pips off one entry wasn't enough yesterday? Market went 140? Did you know that before it happened?
Coulda shoulda woulda?
If your mechanism for getting out is not a trailing stop (by God it isn't!) then you get out when price is stalling or you have just had a huge move in your favour.
Of interest to the EU short traders but only if you have already made profit, taken profit and can now re-invest profit.
ROFL
