Hi Everybody,
Yesterday was a brilliant example of why it is so important to keep the losses small. What most amateur traders never realize is that losses can and do happen, but the trick is keeping them small and under control.
On the 3min YM yesterday we had 4 automatic trades, 3 were losers BUT (and this is the important point) the 1 profit make +3R (ignoring slippage and commission). To have 3 losses and only 1 Profit and to come out break-even on the day is a brilliant result. Amateur traders must understand that losses can and do happen. We are one of the few companies that talk about losses, and it is important to understand that losses will happen in this industry.....
Thanks, Steve,
Please see the Advanced Blog, where I will show a trade I talked about a few days ago that would have made yesterday Profitable overall.
Yesterday was a brilliant example of why it is so important to keep the losses small. What most amateur traders never realize is that losses can and do happen, but the trick is keeping them small and under control.
On the 3min YM yesterday we had 4 automatic trades, 3 were losers BUT (and this is the important point) the 1 profit make +3R (ignoring slippage and commission). To have 3 losses and only 1 Profit and to come out break-even on the day is a brilliant result. Amateur traders must understand that losses can and do happen. We are one of the few companies that talk about losses, and it is important to understand that losses will happen in this industry.....
Thanks, Steve,
Please see the Advanced Blog, where I will show a trade I talked about a few days ago that would have made yesterday Profitable overall.
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