I found that 99% of people have a bad habit that is fatal. Yes, it is fatal.
When the currency starts to fall, they are reluctant to sell, and always want to wait for a rebound before selling.
Then today, it rebounded, but I didn’t buy it. It fell by two points, but I didn’t sell it.
Tomorrow, it rebounded and fell, and I said that I had no chance to sell it. It fell by 3 points, but I didn’t sell it.
The day after tomorrow, it rebounded by 1 point, and I said that I wouldn’t sell it if it didn’t go back up.
Now it’s good, it slowly fell by dozens of points, and all the money I made before was gone, and I lost money.
This is not the correct trading method. As long as you don’t stop loss, no matter how much you made before, as long as you make a mistake once, it’s all gone.
I have studied that all the good traders will cut when they fall, admit their mistakes immediately, and start a new game.
I am the same, unless it is a super sure value investment, I dare to make up for it as it falls.
Otherwise, you must make a stop loss plan in advance before placing each order, otherwise it will be over if you make a mistake once, and this is not a mature trader.
So every time I give a currency, I must bring a stop loss point.
Trading is a lifelong thing.
If you want to survive in the market for a long time, you must change this fatal bad habit and make a stop loss plan in advance every time you open an order. Instead of fantasizing about "I will sell when the price rebounds" after the price falls.
