Amazing, simply amazing. 1 post and 1 loss. It must be Synergy.
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Quoting THKDislikedOne thing i've learned from this is, the less you cut the losses, the more you profit from the market, i know is hard to believe, it cost me a big time to understand that, and that's what some people here is facing, the truth is that this approach i mention, have some other stuff behind it, let me explain in a little more detailed way...
Starting from the fact that, fundamentally, the first thing the traders want to know for trading decisions is the Interest Rate, and all the others indicators try to figure what the interest rate will be in the coming days. The banks from all the countries are always trying to balance the movement of a currency, that is, if a currency moves so fast in one direction, lets say, 500 pips in a matter of days, they will use his powers to attempt to bring the price back, to achieve price stability, giving speeches, etc, they have an arsenal of methods for doing this. This is what gives the "volatility" to the market, and that's the "Fibo Retracements", and the "support/resistance points", and etc.
The point is, and that's why i'm explaining this, that the price will ALWAYS come back, sooner or later.
In his magic marketing tricks, the brokers point you, from different sources, that you must never let to run a loss thinking that the price will go back in your favor, and let me tell you that this is absolutely FALSE, of course, if you have a 200:1 leveraged position, you'll clean your account before it actually happens, but let me repeat you, they price WILL come back in you favor, if you don't close the trade, you just have to give the trade enough room for it to happen, this is made with low leverage and considerably far away SL, because you have a limit, if your SL is hit, the drawdown wont be too much because you're using low leverage, and it will happen probably once each three months.
To understand this avoiding SL approach i use, is needed a complete trading mentality change, and i don't want to be a "know-it-all" kind of person, just want to help a little bit from what i've learned...Ignored
Quoting THKDislikedThe point is, and that's why i'm explaining this, that the price will ALWAYS come back, sooner or later.Ignored