stop loss
Hi ,I have a question to the expirienced traders ,may be stupid but ,may be someone can help.Im getting pretty good with trading ,but sometimes the trend just goes on for ever and I make a big loss.Been contrarian ,like Peter says,its good to catch the end of the trend ,but sometimes is just one way.So hier is the question ,please:If I think ,this is the end of the pattern ,I place a trade,but if continues I make a big loss.On another hand if I place a stop loss ,and goes for a bit against me closes for a loss ,before goes back and the trade is in profit.How do I deal with this ,please.
soon as you have allowed the loss to move to the point that you decided before hand is the maximum loss you are prepared to take, red up and get out of the market.
dont try and recover it your emotions will be ruling your better judgement, have a cup tea and come back ten to fifteen minutes later, if your emotions are back to levelish.
dont try and recover it your emotions will be ruling your better judgement, have a cup tea and come back ten to fifteen minutes later, if your emotions are back to levelish.