" the BIG mistake is imminent" , I was writing yesterday. It was indeed! I did it today. In less than 2 hours, I lost 19% of my account. How? By entering trades quite randomly, whithout any sense of timing and capital preservation. Trying to get back by all means the initially lost few pips (revenge trading).First trade was ok, on the previous low break, -10p. Re-entered to win 12p. But it was not enough for me, re-entered to sold the bottom, -19p. 4th trade was pure impulsion, a no-sense, -15p. And the fifth was the masterpiece, against all odds, a sell again, while the 1M and 5M indicators were showing a reverse. The reverse just happened, trade not closed,-40 pips. -72p (-144) in total, what a smart trading!
This is the thing that most new comers do, if we lose little money or few trades, it becomes necessary in their eyes to recover it by force, but I strongly believe that such revenge trades are nothing, but investing losses which is why we need to be very careful. At the moment with OctaFX broker, I can work all very smoothly even with losing few trades due to their rebate benefit where I get 15 dollars profits back, it’s all too easy for me.
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