I saw a video on Youtube where the trader is able to make money trading, even when he is wrong...
The key points:
He is able to be in drawdown from 8 trades in a row, because he is not risking a large lot size per trade.
He knows the market will retrace back or close to the original first trade,
The newer trades act as the profitable trades to dampen the loss from the earlier trades
I am not an english native speaker so I dont understand everything in the video..do you know where I could find more info on this strategy in text/pdf?
Is it possible to share the video here in case someone is intersted in sharing more details about this strategy?
It's actually true that their are some good and genuine content creator on YouTube, but I can attest to it that, the fake and unreliable ones are more than the genuine ones, concerning the trading aspect, the major causes of traders losing money in trading is as a result of watching two three or four videos on YouTube and think that they are ready, not knowing that their is more to trading than just watching few videos on YouTube and thinks that they have known it all.
For you to be successful in trading, you need to have knowledge of what you are doing first, then patience comes second, and knowing how to control your emotions, knowing how to use your leverage properly, knowing when to stay off the market and many other things you have to masters before venturing into trading, if not, you will keeps on liquidating yourself in the market.