The entry was late and risk was taken on the first trade, price went to -10 and then again up.
Tuesday, March 10, 2009
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"When i trade at home, I often watch the sparrows in my garden. When I feed them bread, they take just a little piece at a time and fly away.They keep on flying back and forth, taking small bits of bread. You will never be able to shoot a sparrow, it is just too fast. That is the way I day trade". M. Weinstein.
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1 comment:
We need to be very careful that we don’t risk our whole account for few pips, as often we get into mindset where just to collect 10-15 pips, we end up losing 50-100 pips, so that’s where use of stop loss is crucial and we need to be certain on the trade before going into it. I always work with extra dose of freedom thanks to OctaFX broker’s mighty rebate program that brings 15 dollars profits per lot size trade including the losing trade as well.
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