Last nights price action is a perfect example of the importance of correct risk management. All 3 entries taken last night ran to roughly 3% and then reversed.
Due to correct risk management all 3 of these trades resulted in Break even results instead of full losses.
Finishing the night at break even instead of -3% is not a huge difference $ wise but also a massive difference mentally.
By closing 0.25% of your position at 3% profit you are essentially Break evening your trading while still leaving your stop open and 75% of the position still running.
Due to correct risk management all 3 of these trades resulted in Break even results instead of full losses.
Finishing the night at break even instead of -3% is not a huge difference $ wise but also a massive difference mentally.
By closing 0.25% of your position at 3% profit you are essentially Break evening your trading while still leaving your stop open and 75% of the position still running.
FREE Youtube Foundation series
youtu.be/7kA0RozUQTU
WEBSITE
empirefx.com.au/
INSTAGRAM
instagram.com/empirefx_official/
Telegram
t.me/Empir3_FX
youtu.be/7kA0RozUQTU
WEBSITE
empirefx.com.au/
instagram.com/empirefx_official/
Telegram
t.me/Empir3_FX
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FREE Youtube Foundation series
youtu.be/7kA0RozUQTU
WEBSITE
empirefx.com.au/
INSTAGRAM
instagram.com/empirefx_official/
Telegram
t.me/Empir3_FX
youtu.be/7kA0RozUQTU
WEBSITE
empirefx.com.au/
instagram.com/empirefx_official/
Telegram
t.me/Empir3_FX
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.