Ian,
I hate losses... why? Because it's my fault... I didn't read the current market correctly. I always feel like I should have known better than to enter at that particular spot and I review it... why I did it. I'm tough on myself for screwing up.
I trade full lots: $10 a pip. When I trade the higher time frames I will only allow a 10 pip or less pullback before exiting. I make every attempt possible to lose $100 or less when I'm wrong as I monitor the trade...
Sometimes I just take bites out of the market... Example: Enter a trade and it goes up 17 pips but then starts to pull back 5 pips lets say. I'll exit and keep the $120 profit and re-enter when it looks right...
I hate losses... why? Because it's my fault... I didn't read the current market correctly. I always feel like I should have known better than to enter at that particular spot and I review it... why I did it. I'm tough on myself for screwing up.
I trade full lots: $10 a pip. When I trade the higher time frames I will only allow a 10 pip or less pullback before exiting. I make every attempt possible to lose $100 or less when I'm wrong as I monitor the trade...
Sometimes I just take bites out of the market... Example: Enter a trade and it goes up 17 pips but then starts to pull back 5 pips lets say. I'll exit and keep the $120 profit and re-enter when it looks right...