hi everyone i hope you are well,
I have been trying to trade for a while now and although my success rate ranges 60% upwards I still tend to finish at a loss. This is something everyone either has experienced in the past or still are experiencing. I hope this topic would help many people with their trading success.
The questions, how do you control your losses? Where do you set your stop losses? What makes you set your stop losses at a certain point?
Currently I am using several indicators such as zig zag to look for trends and breakouts, Stochastic oscillator, MACD, RSI and various MA's...
I am still learning so I am trying to find the best indicators and combination of indicators aswell as what the best newsfeeds are to see what the market is doing.
I hope some of you can provide some answers or even point me/us in the right direction.
many thanks for your time and answers
i will look up fractals and see how to use them :) how do you know when to take the profit? do you just keep disciplined at take them when the required pips have been met?
Profit and loss are part of trade but facts telling only 10% peoples in success. What 10% peoples doing and they have success?
Try these all and then come back with your results
You actually do not need to use to much indicators because they will conflict each other. Just pick 1 or 2 indicators, practising with them, get the real feeling and start very small lot-size 0.01 on the capital of 100 usd.
I think you also need to pick 1,2 or 3 pairs only to look at.
If you trade D1 (determining the trend, direction), you can find the enter points in H1, H4, and always put the SL at the swing high/low + some pips.
Losses occur.Most important part of loss is whether it is expected or unexpected lossess.
Black swans like 9/11 OR SNB move catasthrophic.
To eliminate this reducing the levarage.OR closing the position at sleeping time.
To use shorter time frames entering and existing for ''1'' long term direction (short or long).İt is the maximal PROFİT and minimal LOSS