A beginner trader when buy/sell, as soon has he gets few pips profit he wants to take it. If it goes against him, he hopes and believe it will come back. Some time it comes back and he believes in it now. Next time it goes more and more , he adds one more .. and more and more.. so at one point either he got margin call or he cuts it as big loss.
I always think, is that possible that a trader can do exactly opposite of new trader? I mean can one take trade and quickly cut it if it is loss and let it run if it is in profit.
And add more and more and more once it is in profit?
As my understanding and IMHO, the entry system (buy/sell and exit rules only) is only 15% of the trading system. The major parts are money management and trade management. What do you think?
A pro trader waits his setup, he would miss the trader rather than take a trade which is missing only one of his criteria. He would try to run his profits longer and try to cut losses in short... Do you guys agree?
Please feel free to comment freely.
I always think, is that possible that a trader can do exactly opposite of new trader? I mean can one take trade and quickly cut it if it is loss and let it run if it is in profit.
And add more and more and more once it is in profit?
As my understanding and IMHO, the entry system (buy/sell and exit rules only) is only 15% of the trading system. The major parts are money management and trade management. What do you think?
A pro trader waits his setup, he would miss the trader rather than take a trade which is missing only one of his criteria. He would try to run his profits longer and try to cut losses in short... Do you guys agree?
Please feel free to comment freely.