Quote from: jossiel on Today at 08:45:17 PM

Quote from: winrate.io on December 16, 2020, 09:15:45 AM

Quote from: jossiel on December 16, 2020, 06:01:15 AM

Quote from: winrate.io on December 15, 2020, 09:58:30 PM

"You need a strategy"
Everyone told me from day 1 "You need a strategy" - but I simply didn't know how to make one. After losing 90% of my account balance, I took a break from trading for 6 months. Then I came back with a new mindset and reviewed some of my past trades.

Just as I think before but you know what, most traders are dealing with hardship in making their trades profitable. In the real situation, traders get a lot of failures before getting the right mixture of strategy in order for them to attain profitability.

I'm done with trading and it's not that profitable to me, well at least its the day trading that I'm mentioning. And the strategy that I've learned from the others is no other than holding. Accumulating and holding works great for me and I don't want to get rekt again by doing day trading.

Yeah, trading is difficult and it hurts me to see how many people are losing lots of money. Thats why I think everyone needs a strategy - to know what is the worst case scenario and what is the best case scenario.

For me this was a game-changer. Because I realized that, with the right strategy, I didn't even have to risk that much money but still have the same potential.

One of my most important rules that I use to stay in the green is to NEVER lose more than 2% on a trade, never never never. I always set the stop loss at 1-2%. In that way, I will never panic and if I realize that I have too many losses in a row, I pause my trading and evaluate why I keep losing.

Setting stop loss is a good strategy. When I was newbie, I don't know about this feature the exchanges have and that's why I'm losing more than what I have.

It is a good deal that you only set it from 1%-2%. I've seen others are putting it above from 5%-10% which surely will hurt you whenever you just keep seeing the market don't go along with what you're trying to trade. It is an interesting strategy when you've said that you don't have to risk that much money as 1%-2% isn't a lot compare to what me and other newbies did before at least when I'm still day trading.

For people whom do make out some swing trades or mostly away from keyboard or not really that active then setting stop loss would be recommended but when you do
actively make trades then this one wont really be that necessary or needed because you can actively stop or cut those orders with your own decision or on spot.

We do only have one target which is to stay into the green side no matter what strategy or behavior you do have as long it do looks effective then better stick with it.

Don't let yourself get too greedy or else it will mess up the entire thing.