This is how i trade ,i ask myself the following 3 questions before taking a trade
What do i want?
What and how much am i willing to give for it?
now i took a buy on this pair up there when it had a false break out and got stopped out (being stopped out it meant that my trading idea was not correct,this is because i place my stops strategically such that if they are hit it means my idea was wrong)
it costed me 25$ after what i said another opportunity will present itself again to me and here it is
the pair found support and broke it we have a close below the level
so to me its more profitable to sell than buy ...remember no one can control the market movement but we can control where we enter ,we can know what and how much we are risking at least that u do know once u place and u can control it.we have to understand that trading brings two outcomes gain or loss...so when we take a position its good to focus more on the risk side
for me i take this sell because it presents me with a risk (worthiness of my stop loss) which i can stomach if it does not work out my account will still be alive since the 25$ i lost previously was covered up by another winning trade and it provides me with more reward than risk
Good set ups or not,good trading system or not,News or not Forex is a probability game and we need to ensure that our risk is less and reward is more...
no retail trader knows exactly where the market will go after taking a position
FACING THE TRUTH AND EMBRACING IT MAKES YOU A BETTER PERSON...
What do i want?
What and how much am i willing to give for it?
now i took a buy on this pair up there when it had a false break out and got stopped out (being stopped out it meant that my trading idea was not correct,this is because i place my stops strategically such that if they are hit it means my idea was wrong)
it costed me 25$ after what i said another opportunity will present itself again to me and here it is
the pair found support and broke it we have a close below the level
so to me its more profitable to sell than buy ...remember no one can control the market movement but we can control where we enter ,we can know what and how much we are risking at least that u do know once u place and u can control it.we have to understand that trading brings two outcomes gain or loss...so when we take a position its good to focus more on the risk side
for me i take this sell because it presents me with a risk (worthiness of my stop loss) which i can stomach if it does not work out my account will still be alive since the 25$ i lost previously was covered up by another winning trade and it provides me with more reward than risk
Good set ups or not,good trading system or not,News or not Forex is a probability game and we need to ensure that our risk is less and reward is more...
no retail trader knows exactly where the market will go after taking a position
FACING THE TRUTH AND EMBRACING IT MAKES YOU A BETTER PERSON...