I want to share this expirenence with you:
I am a trader and i have was loosing money also with TROs methods/Indicators. I stopped trading and analysed what i did wrong. And i cam to the conclusen that i was overtrading, to many trades to less planing and analysing. An other and the important issue was the way i managed my trades. If i was in Profit i wanted to keep it and tended to cash them to early. In Loss i hoped for recovery and in fact let my losses grow bigger and bigger.
Know that i know this issues i analysed the way i managed the positions and asked myself: "how can i improve my trading?"
If some of you guys have similar problems i can give you the advice that made my trading better just by managing existing positions in a different way:
- Use a fixed TP wich makes sense with the market condition
- After Entry set a mental SL and fix that level with a horizontal line on your chart
- Close Position when SL Level is triggerd or try to get out at a better price
This way i am able to let my winners run (because of the fixed TP) and cut the loosers (Mental SL).
Hope this helps some of you traders! How do you manage your trades in general (No details)?
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