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Dear Traders,
ONE OF THE MOST BASIC BLUNDERS IS NOT PUTTING THE SL . PEOPLE FORGET THAT - ALSO EQUIVALENT IS PUTTING A FAR AWAY SL ( so that it can't be touched ! ) - but ANYHOW WE FIND THAT OUR "SAFE AND FAR" SL WILL BE TAKEN OUT 100% OF THE TIMES !!
This is what happened to me in GBP/JPY pair yesterday.I WENT SHORT AT 152.33 AND PUT A WIDE SL AT 153.65 - A 130 PIP SL - A VERY WIDE SL FOR MY RISK AND LEVERAGE USED.
You can see that it did not go 35 pips below but instead went 165 pips higher !! ( How come this always happens in the reverse direction !!? )
THAT SAFE SL WAS INDEED TAKEN OUT QUICKLY WITH EASE.
I LOST 25% OF MY CAPITAL AS WELL . WITH A CONCURRENT LONG IN GBP/USD - I LOST 50% OF MY CAPITAL
Basic blunders will 100% be punished in the markets.
HAPPY TRADING, KUTTY
ONE OF THE MOST BASIC BLUNDERS IS NOT PUTTING THE SL . PEOPLE FORGET THAT - ALSO EQUIVALENT IS PUTTING A FAR AWAY SL ( so that it can't be touched ! ) - but ANYHOW WE FIND THAT OUR "SAFE AND FAR" SL WILL BE TAKEN OUT 100% OF THE TIMES !!
This is what happened to me in GBP/JPY pair yesterday.I WENT SHORT AT 152.33 AND PUT A WIDE SL AT 153.65 - A 130 PIP SL - A VERY WIDE SL FOR MY RISK AND LEVERAGE USED.
You can see that it did not go 35 pips below but instead went 165 pips higher !! ( How come this always happens in the reverse direction !!? )
THAT SAFE SL WAS INDEED TAKEN OUT QUICKLY WITH EASE.
I LOST 25% OF MY CAPITAL AS WELL . WITH A CONCURRENT LONG IN GBP/USD - I LOST 50% OF MY CAPITAL
Basic blunders will 100% be punished in the markets.
HAPPY TRADING, KUTTY
