quotNever turn a winner into a looserquot - Myth or Reality? - Page 3
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Thread: quotNever turn a winner into a looserquot - Myth or Reality?

  1. #21
    Don't take the concept literally. The major lesson I drew from this statement was that if you give trades the liberty to run (so not a binominal situation with a Take-Profit), then it's critical to track a Stop-Loss. If you wait for a long time, and maintain the initial Stop-Loss, the SL is bound to be hit.

  2. #22
    Never turn a winner into a loser?

    It ALL depends on your egy.

    Trading is a really tough business.

    There is no right reply to this question.

    I mainly try to trail the stops or take some/all profits.
    Sometimes a winner turns into a (little ) loser.

    However, when a situation is in enormous profit it would be quite dumb to provide all the profit back.

  3. #23
    I'd say... Myth.

    I wouldn't ever allow a big winner to turn into a loser. For starters, if that happens, the reality is that you did something wrong. Say you enter EUR/USD in 1.3500. If you receive up to 1.36, 1.37, then there is absolutely no cause, contemplating the way the market goes, for you to be getting out in a panic when it belongs to 1.34 or something of the type. And, further, what I mentioned there about getting out is also a secret. Until you bail on it, it isn't a loser. The market does not care what direction you're heading in, why not 200 should you let 200 or who you are -?

    There are those who would probably place the SL in BE ten pips to the positive. This is obsurd, unless you're a scalper. If you trade duration, you need to let 50 or so pips of swing positive, to swing negative and allow your convictions to perform a little. This is from my experience. My stops are typically 140 or so pips in entrance, I dont think of moving up them to BE until I get close 75 range. This change of the stop is just done if I see some new thing going on with all the markets.

  4. #24
    definitly NOT a 'MYTH! Definitly one( of a couple principles ) that made me profitable.

    With a profit and viewing while it evaporates to strike on your stoploss just doesnt make sence. Besides that it will mess that ur head when that profit/ loss starts going into the tens of thousands of dollars

    of course, the rule is intirely baseless when you dont know the market and dont understand when your winner IS.

  5. #25
    Quote Originally Posted by ;
    besides that it will mess that ur head when that profit/ loss starts going into the thousands of dollars
    Well that depends on your account size of course.

    Using overly high leverage kills you is definitely not a myth.

  6. #26
    Quote Originally Posted by ;
    Hi every1,
    There's just one this that has been bothering me for quite a while. THE GURUS state: NEVER TURN A WINNER INTO A LOSER... Pretty clear, right? No. Not for me.

    What if: for example, I go extended cable at 1,5, SL 50, TS 50, and it goes in my favour for state 20 pips to 1,502( so its a WINNER already, right?) Then it retraces state 40 pips to 1,498. So now what: its a LOOSER for this very moment!! I DID TURN IT A WINNER INTO A LOOSER!!!!!!!!!!!!! But I am behaving according to my plan ( SL 50,TS 50).
    If it goes up - thats fine, but...
    Just how one could be a winner without even reaching the finish-liine?

    Some usage TP and others SL (transferred up/down as pa goes in their favor) as their finish-line.

  7. #27
    Quote Originally Posted by ;
    I would say... Myth.

    I wouldn't ever allow a big winner to turn into a loser. For starters, even if that occurs, the reality is that you just did something wrong. Say you input EUR/USD at 1.3500. If you get up to 1.36, 1.37, then there is simply no cause, considering how the market goes, for you to be getting out in a panic when it belongs to 1.34 or something of this sort. And, further, about getting out what I mentioned is also a key. Until you bail on it it is not a loser. The market doesn't care who you are or what direction you're going...
    I agree. The majority of us are better at forming a prejudice than we give ourselves credit for. As we believe we are, but we are less good at position holding and sizing our trades. If we have to bail early on, possibly our position size is too big. Death is early caused by dumping positions .

    Even when you're a briefer term trader, taking a couple longer term trades with miniature standing size can be a useful exercise. When you start with a 1000 pip wins, you'll begin to realize what is possible if you give your trade area to breathe, even when it means letting a 50 pip exchange go against you a little bit.

    Everything comes down to your strategy and what you consider a winner.

  8. #28
    I am educated, this week I had a giant margin call, and I'm afraid to operate, yet as this is my primary activity, must possess the eyesight of winning.

  9. #29
    I have let countless winners turn.

  10. #30
    It is very important to have SL put and closely follow with TSL, but I believe we have to develop our stretegy correctly based on currency pair, time-frame, trading session account size (little balance may not survive longer interval trades). We need to comprehend the essence of the currency pair we like to exchange, each one reacts differently has their sound.

    Frankly speaking it's not easy!

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