prochargedmopar wrote:Wow how my "trading" has progressed.
Where would we be today , if all of our losing trades were covered at -5 or less ??https://www4.dailyfx.com/forex/fundamental/article/special_report/2015/06/25/what-is-the-number-one-mistake-forex-traders-make.
That link is not working for me dchappy (page not found).
I do something similar through doubling.
Risk box starts at 40 pips (say $40)
1 double: rb is 20 ($2 * 20)
2 doubles: rb is 10 ($4 * 10)
3 doubles: rb is 5 ($8 * 5)
All of my gains/losses are recorded in "big pips" ($8/pip, target size).
0 doubles: 0.125 "big pips"/pip
1 double: 0.25 "big pips"/pip
2 doubles: 0.50 "big pips"/pip
3 doubles: 1 "big pip"/pip
The question is the same: how easily can your target size wipe out previous losses and show a profit?
Some people think that they can afford to lose hundreds of pips because they are using a small size
If I lose 400 pips, at my smallest size, where each pip is 0.125 "big pips", then that is -50 "Big Pips"!
Do the math, you can't afford multiple multi-hundred pip losses at any size; you will spend all of your time
trying to break even.