I am also thinking about it. If we close a losing order we reduce our money. If we keep it one day it will come to in profits. To do this we need to trade with small lot size. EUR/USD : suppose now u have an open buy position at 1.3000. now let today or tomorrow the price go to at 1.2700. that means u r in a loss. Now at 1.27 u bought again with double lots. I think the price must come at least 1.28 and u are going to harvest the crops.
it depends on what pair we are trading in. when we trading in gold it's ok if we want to wait and see until market goes up again. it sure come but the things is we don't know how long it will take. passion and be discipline.
Yes, the keys are patience and discipline. With patience and discipline we can wait for floating condition and it will turn out to profit. We also must apply good money management so we can survive trading in long term and we can change from floating loss become profit.
yes we have to keep patience till our trades is going to profit in forex.But if we find any wrong with our trading then we need to close it instantly.But many a time i find to reach our trades in profit after a long time for the slow movements of the market.
to obtain the most accurate analysis I often spend a lot of time so that I myself can not wait sometimes to analyze it. but to this day I continue to practice to be patient in analysis despite its very long term. because with patience I can get more profit compared with a hurry.
no it is not okay, i think the best way to trade is with take profit and stop loss order, by this way we will in the current market and make some loss but we recover it and make profit, money management require those order to complete the strategy