Refering to this trade (also linked below the post)
I exited the trade when the GDP number came out. The probability was against me when that number came out so I cut my loss immediately. I risked 0.8% for this trade and ended losing approx 0.4%.
The takeaways that I would like my readers to get from this post are as follows :
1) Trading isn't about being right, it is about managing risk when you are wrong
2) Don't over-leverage
3) Apply discretion around a very well thought out trading plan/strategy (i.e the GDP number came out and I did not see the value to stay in the trade as the probability was severely against me)
4) It is okay to take a loss
5) Be wary of risk-events even if you don't include fundamental analysis in your trading methodolgies
I exited the trade when the GDP number came out. The probability was against me when that number came out so I cut my loss immediately. I risked 0.8% for this trade and ended losing approx 0.4%.
The takeaways that I would like my readers to get from this post are as follows :
1) Trading isn't about being right, it is about managing risk when you are wrong
2) Don't over-leverage
3) Apply discretion around a very well thought out trading plan/strategy (i.e the GDP number came out and I did not see the value to stay in the trade as the probability was severely against me)
4) It is okay to take a loss
5) Be wary of risk-events even if you don't include fundamental analysis in your trading methodolgies
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.