I am definitely returning though slowly. I had recouped some of my losses and gradually returning to original amount. The account is now down by just 4% and I am giving myself a big back-pat for that (who will if I don't do it myself).
Part of the adjustment I made had to do with my money management. I decided on a specific volume for each pair and stuck to it irrespective of the stop loss. Formerly I was using my capital and stop loss to determine my trade volume but it was costing me more losses despite good gains. A loss could amount to 100 pips for -$50 while a gain of 200 pips is only +$30. So with the new method, my gain or loss is the same and any trade with more than 150 - 200 pips loss is simply not for me.
I also take more trades now with more strategies both original and adopted (in fact I was surprised to see an improved version of the strategy I was trying to develop lately LIVE on a forum with very high positive rating!! Of course I quickly adopted it and started using it immediately)
I am willing to lose, willing to learn and determined to become a very successful forex trader. The retreat bridge had been burnt.....
Part of the adjustment I made had to do with my money management. I decided on a specific volume for each pair and stuck to it irrespective of the stop loss. Formerly I was using my capital and stop loss to determine my trade volume but it was costing me more losses despite good gains. A loss could amount to 100 pips for -$50 while a gain of 200 pips is only +$30. So with the new method, my gain or loss is the same and any trade with more than 150 - 200 pips loss is simply not for me.
I also take more trades now with more strategies both original and adopted (in fact I was surprised to see an improved version of the strategy I was trying to develop lately LIVE on a forum with very high positive rating!! Of course I quickly adopted it and started using it immediately)
I am willing to lose, willing to learn and determined to become a very successful forex trader. The retreat bridge had been burnt.....
1 comment:
Do you know a man that's diligent in his nusiness? He would stand before great people and not lowly men!
Keep on keeping on, in time, the rewards would come.
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