DislikedThat's the right way to do it, but sometimes you loss more than u winIgnored
If losses are bigger than profits, there is a problem.
I don't like to loose. But when I'm wrong I prefer a small loss than a big one.
I like to win, and to achieve that I need to have good odds.
So far, this is what I try to do:
I let the charts tell me where the price has reacted before.
I use trendlines to anticipate a reaction.
I look for confluence to setup a trade.
I buy @ support
I sell @ resistance
I wait a test when there is a breakout
I don't place trades all the time. Price must come to my entry point so I can get filled.
If PA invalidates my previous analysis before price reaches my entry point, I will reassess my setup and let the chart tell me what's going on.
If I miss an entry I won't chase the market. I can wait for a new chance. It's not the same thing not being afraid to loose than provoking a loosing trade.
I trade 3:1 or 4:1 setups. More than a 60% wins. Still need to improve.
I don't trade without stop loss. So I need to identify a good entry near a reaction level, and I place my SL just away so if it is hit is because I'm wrong or something I'm not aware of is happening. In that case I don't want to be in that trade anymore.
I know what is a margin call, it only happened because of not using stop loss.
I make mistakes, but I try to learn from them.
I won't repeat previous mistakes if I am able to identify them.
I've been expendig time researching, trying, making mistakes, learning, improving.
So I try to understand what I see.
In a few words: i'm making my own rules.