0
Votes
Resolved
If you have a bad trade, you moved you stop. you are down twice of what you planned for. ALL INDICATORS ARE AGAINST YOUR TRADE. Some miracle happened and your price is back to a little less than your original stop loss level. What would you do now?
Psychology
- 8 Answers
- In Trading Mindset and Psychology
-
- by
-
- Warren
- 223 Views
- 1 year ago
Answers
|
0 Votes
You should close your trade as you have written "all indicators are against you". By continuing in the trade means you do not trust your indicators and you allow your emotions of "fear and greed" to take over. |
|
0 Votes
I set my SL before and TP as well,i never used to move SL. Thats the mindset I have in trading. |
|
0 Votes
As you are not confident of your trade, either you close your trade immediately. If you do not do this, you can wait for the trade to develop but be prepared for the risk as it can go against you. |
|
0 Votes
I will close the loosing is part of the game.You have to trade today to be able to trade another day very soon another trade will come your way to pay for the lost ones. |
|
0 Votes
You should close your trade as you have written "all indicators are against you". By continuing in the trade means you do not trust your indicators and you allow your emotions of "fear and greed" to take over. |
|
0 Votes
|
|
0 Votes
There's no GOOD answer to your question, 'cause you changed your trading plan by moving the stop. You placed yourself where no questions or answers would do you any good. You had to be out of this trade. You moved the stop because didn't want to lose, which tells me the size was big. Reducing the size lets you stick to your plan easily and without any regrets. Mechanical approach is potentially very solid profitable strategy and applicable to newstrading too. You transcend those "fear and greed" by giving up risky lot sizes and the idea of "getting rich quick". Good luck. |
|
0 Votes
|
Related Questions
****Contest Rule Change!! Henry, are questions asked from this point forward worth 10pts? …Or ...
5 Answers
, everyone what is the best way to trade eur/usd
5 Answers
... Fibonacci Fan? How do you trade with it?
2 Answers