yeah...I find that I've been strugglin w/the stop loss issue...to use or not ta use em, using mental sl's or simply adhering to a strict 10-20 pip sl setting every trade. My long turlte last night got down as much as 30 before it turned & hit my tp 30 mins ago...albeit that tp was approx 75...so I only missed my downside goal by approx 100%....lol
Guess it depends on wether or not I wanna babysit a position or if I wanna walk away while a trade is on (overnight, etc) which in that case I'll of course have to set some sorta sl. Not quite sure what I wanna do or how I even wanna go about it all quite yet? I find that even after a yr + of demoing that I'm still going back & forth w/various strats.
I am tryin ta get my entries so that I am never down more than 15-20 at anytime during a trade...& hitting a profit level of 20-30 pips. At a 60% hit rate on these money mngmt guidelines that'll take some time ta build the acct...especially w/a 2% lot size. But at least I will be building it just the same. Thinking about beg @ 30-1 & if that seems to be working then I'll move up to 50-1...but most likely never go beyond that level of leverage...unless I find that overtime I am some sorta 4x Sage....which I highly doubt.
Ataglance once told me that what I should 1st do is simply use a capital preservation strategy.....not focusing so much on making money....but trying to see if I can simply hang on to it...of course if I show a positive roi...great....but don't try to be a hero right oudda the gates...keeping my expectations low & humble....then if I show that I can at least be good at breaking even, then I can begin to step it up a bit.
At any rate...I'll most likely be demoing for another yr or so...at least until I can prove to myself that I have 1/2 a clue ;)~
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