We must be the elite of traders here on Moneytec, everyone's winning, it's great, I feel totally inadequate!
Ok, I'm being sarcastic, but all we ever see are successful strategies and people turning $10 into $10,000,000 in 10 days, don't we have any losers here?
I'm always losing trades, it happens all the time, fortunately my winners pay for them and leave me with some profit at the end of the month. Take this morning (GMT) for example, I went short GBP/USD at 1.8410 and got stopped out on the retrace for a loss of 30pips, I thought it had already retraced! It would have been a good trade as it's now at 1.8365 but I stuck to my plan, ho hum, there'll be others. What I should have done was followed my trading strategy without hesitation even after a loss and re-entered short on the 50% retrace but I was too slow and still recoiling from my morning's loss.
How about a few more 'what not to do' as well as all the 'do this', I'm sure there are a few readers who would find it helpful.
Have a great day y'all
Mick
