And here is the day I was waiting for. Trading like I do now, sooner or later you will have to face the situation, when you hit the strong trend and get a losing streak. Today there were plenty of losers, but still some trades are running. There would be certainly a loos for me, the question is: would it be small or very small
You can notice, that on some markets today I got like 4-5 loss trades in a row. But this absolutely doesn't matter. Each trade that I opened had a potential to cover 20 losers or more. Patience is a key. When you let your winners run, there is a very tiny chance that you will blow your account when using decent money management rules.
Yesterday I thought, it's a good day for you, now I see, it's not that simple
But if you have R:R 20:1 like you said, it's doesn't matter, like you said
ps. I really like yours trading style. I think this is my ideal
Last edited by xspojlerx; 05-07-2014 at 06:30 AM.
great man! that's a step forward for sure!
Hmm... Your post disappeared?
Argh, I just wanted to edit my post and I deleted it instead... I made screenshots from the wrong account, and were showing you limit orders instead of the running ones. I can tell you, that when my original entry is going very strong to my desired direction, I treat my entry level as a potential supply/demand zone, as the price has reacted there very rapid. Then I place there a buy limit or sell stop, and when the price goes back there, I enter the trade. It is a sort of a eperiment though, I run it on demo on a different account. As my trade are already closed, I paste here the places where I quit. Not the best ones, it could be much more to take, but rules are rules.