I was trapped long on the small uptrend early today, 4 losing trades (2x2 lots) , the alarming was the average loss again : -44,5p!... I still can't close losing trades early. I got the pips back later on the euro's free fall, but not all the money because of commissions and lot size decrease after the initial big losses. So in total, 13 trades, 8 W, 5L, +10 pips gain, -2,95% account loss.If I continue like this, I will be in big trouble, sooner or later.
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4 comments:
Hi Constantino,
I think that you have found an excellent trading system. As we talked in the ITC you haven't got a loosing week for a long time. I even have modified my trading style incorporating Eur/jpy and closing the trades earlier. You are getting excellent results. You don't need to do it better. So you have to relax and cut your loses earlier. The money management is your issue and you have to put up with it.
Cutting your loses doesn't mean a losing day, because as you really know in a day you have got plenty of opportunities.
David
Hi David,
thank you for the kind words. I too discovered that I need to cool down, to avoid THE big mistake.
David, how is your trading recently?
In my view we definitely need to be careful, if we don’t work with right approach than we might put our self into huge risk and that is forever going to lead into losses. I am working with OctaFX broker where I always get massive advantage thanks to their rebate program where I earn 50% per trade, so that really makes thing easier for me especially if I am using high lot size and also makes me calm that I am earning no matter what trade goes into.
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