Have we ever respected our losses ??
The form of respect here does not mean we like the name loss, but at least we can be fair. Profit is grateful, Loss should also be grateful (luckily not Margin Call, right)
The form of honor is a stop loss to protect our account from total loss or the cool language of a Margin Call. that way we can become sincere. Avoid holding on to a loss position (how come you like to hold a floating loss position) because we have the reason HOPE AND POSSIBILITY that the situation will turn around, but we also cannot compromise the market ?
Advice Ed Seykota (brave cut-loss):
- If you lose, immediately close your position,
- If fortunately, let your profits move according to the trend,
- If you cannot accept a small amount of loss, sooner or later you will experience a greater loss, (you must be brave cut-loss)
Have you installed SL today ?
Have you got a cut loss today
This is my Stop Loss, where is your Stop Loss
Linkback: https://www.forex.zone/forex-education/29/respect-our-losses/1042/