Monday, 9 September 2013
Don't Take Revenge on the Market – You Just Can't
But when your trade just touches your Stop Loss and then goes in your favor without you? Or if it falls short of your Take Profit and then meets your Stop Loss order. Frustrating, isn’t it? Don’t you want to take revenge?
As the headline suggests, you can’t take revenge on the market. It’s just too big, and it doesn’t care.
Too many traders want to compensate such very frustrating losses in one big bang. They don’t check market conditions and just enter one big trade that hopefully will erase all their losses all at once.
This “double or nothing” attitude has a huge potential for doubling your losses or leaving you with nothing. Remember that Martingale can lead to a margin call.
So what can you do?