Hello every1,
There is one this that's been bothering me for quite some time. THE GURUS say: NEVER TURN A WINNER INTO A LOSER... Pretty obvious, right? No. Not for me at least.
What if: for example, I go long cable at 1,5, SL 50, TS 50, and it goes in my favour for say 20 pips to 1,502( so its a WINNER already, right?) then it retraces say 40 pips to 1,498. So now what: its a LOOSER for this very moment!! I DID TURN IT A WINNER INTO A LOOSER!!!!!!!!!!!!! But I am acting according to my plan ( SL 50,TS 50).
If it goes back up - thats fine, but if it retraces further - I am stopped out, and there we have - a classic WINNER TURNED INTO A LOOSER!!
So, what to do in a situation like that? Or perhaps I am understanding the whole idea incorrectly?
Please, Someone Wise And Skilled , clarify this matter for me, please, please, please
There is one this that's been bothering me for quite some time. THE GURUS say: NEVER TURN A WINNER INTO A LOSER... Pretty obvious, right? No. Not for me at least.
What if: for example, I go long cable at 1,5, SL 50, TS 50, and it goes in my favour for say 20 pips to 1,502( so its a WINNER already, right?) then it retraces say 40 pips to 1,498. So now what: its a LOOSER for this very moment!! I DID TURN IT A WINNER INTO A LOOSER!!!!!!!!!!!!! But I am acting according to my plan ( SL 50,TS 50).
If it goes back up - thats fine, but if it retraces further - I am stopped out, and there we have - a classic WINNER TURNED INTO A LOOSER!!
So, what to do in a situation like that? Or perhaps I am understanding the whole idea incorrectly?
Please, Someone Wise And Skilled , clarify this matter for me, please, please, please