Goonslinger wrote:Wouldn't it have been better to wait for a failure to break lower on the hourly before considering a long? Its descent seems relentless.
All depends on your trading method and what you consider a "failure".
My first loss of $26 was a loss.
This can easily be recouped even with 2-4x SMALLER trade size.
(that trade size was too big considering how little distance the market moved to get to my order)
The next 3 losses were NOT according to any trading plan or lot size (risk) parameters that are acceptable.
I will easily "make it back" with 10 to 20 cent pips.
Even though there is no such thing as "making back".
What ever you are risking, you are risking. M.O.
What ever you have in your acct to make $$ is what you have to make $$. M.O. (paraphrased)