EUR.JPY - How To Deal With A Losing Position
Updated
EUR.JPY missed our TP by 17.2 pips.
I am sharing this for 2 reasons.
Firstly, I pride myself on transparency and refuse to be a company that only show winning positions.
Only showing the winning positions gives a false impression that Pro's & Full-Time traders never lose, which is simply not the case.
Secondly, this is now where many second guess their strategy or punch the keyboard looking for new positions to execute due to impulsive and emotional behaviour.
You have to ask yourself 3 questions.
1 - Does your strategy have a profitable edge over time?
2 - Have you risked managed your account?
3 - Now the position has closed, did it meet your rules at the time of entry?
If you have answered yes to all three then continue to execute positions based on your rules and not your emotions as this game is all about probability and not certainty.
Tom Hall :-)
I am sharing this for 2 reasons.
Firstly, I pride myself on transparency and refuse to be a company that only show winning positions.
Only showing the winning positions gives a false impression that Pro's & Full-Time traders never lose, which is simply not the case.
Secondly, this is now where many second guess their strategy or punch the keyboard looking for new positions to execute due to impulsive and emotional behaviour.
You have to ask yourself 3 questions.
1 - Does your strategy have a profitable edge over time?
2 - Have you risked managed your account?
3 - Now the position has closed, did it meet your rules at the time of entry?
If you have answered yes to all three then continue to execute positions based on your rules and not your emotions as this game is all about probability and not certainty.
Tom Hall :-)
Note
Initial analysis prior to position.
Note
A video breaking down risk management.
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