OIL UKOIL BCOUSD
Updated
Please find information in the chart bubbles.
good luck and have fun trading!
always focus on money management. you can take a lot of 1% losses
but your account can only handle a view big losses, right?
when you lose 10% e.g. 1000$ of your 10k account then you have
9000 left. the next 10% risk trade is only 900$, so the potential winning gets smaller, too.
after that 2nd one being stopped out again you have some 8100$ left!
risking again 10% of that is 810$ risk for the 3rd trade. now this one needs to be
more than -more- than a 1:2 winner to get you back to breakeven.
if lost you have some 7300$ left. with again risking 10% (730$) in the 4th trade
this one need to be a 1 : 3.6 winner to get you close to breakeven...
hope you see the point.
in addition: think of your psychology. what does it do to your trading style when you
started with 10000$ account and you only have 5000$ left? are you panicking? are you still
trading your proven strategy? are you averthinking things and switching markets or strategies
or rules? a good chance you will do stupid tings like that, right? ;)
good luck and have fun trading!
always focus on money management. you can take a lot of 1% losses
but your account can only handle a view big losses, right?
when you lose 10% e.g. 1000$ of your 10k account then you have
9000 left. the next 10% risk trade is only 900$, so the potential winning gets smaller, too.
after that 2nd one being stopped out again you have some 8100$ left!
risking again 10% of that is 810$ risk for the 3rd trade. now this one needs to be
more than -more- than a 1:2 winner to get you back to breakeven.
if lost you have some 7300$ left. with again risking 10% (730$) in the 4th trade
this one need to be a 1 : 3.6 winner to get you close to breakeven...
hope you see the point.
in addition: think of your psychology. what does it do to your trading style when you
started with 10000$ account and you only have 5000$ left? are you panicking? are you still
trading your proven strategy? are you averthinking things and switching markets or strategies
or rules? a good chance you will do stupid tings like that, right? ;)
Note
the zone where i expect the price to change direction was hit, resprected and oil dropped.
maybe you wanna trade this as a 2618 trade down?
Trade active
lets see how this developsNote
the 2168 did not work out. upmove is sort of strong so i step back a bit from shorting oil.
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