Last Friday we have a loss trade which lost 50 pips
(from 0.7490-0.7540), we made a very straight cut loss at 0.7540 so that we wont' lose more money.
Should we be scarred? should we be nevours just by one
losing trade? Absolutely not!
because alough the previous trade lost 50 pips,
but look at other trade: Gold win 300+pips,
GBPUSD win 450+pips,
USDCAD win 1450 pips,
GBPJPY win 600+pips,
should this 50 pips loss worry you?
no! Don't be so greedy that you can win every trade!
Win Big and Lose Small , that's fair enough.
I just short AUDUSD at 0.7590 this morning,
The amazing Inverse 1.618, similar to Gold , similar to OIL ,
and now is 0.7546 already, the loss of 50 pips is arleady
The Question is: Can we stay calm and trade consistently
with our plan, and not affected by emotion and losing trade?
Follow your plan, follow your strategy, and do the right thing only.
The result will take care of itself.
Good luck to every one.
Trading Plan and Execution
A lot of people will have problems of the execution part
because of lack of mental strength.
My experience is: Plan your trade in human being's way, but Trade your Plan in robotic way.
Trend trader will join the short