One of The Biggest Lies in Forex Trading!
What is the Most Profound Statement You Hear When Attending a Forex Seminar or Course or Trading Education. The One Thing They Keep Repeating Over and Over Again.
Never Ever Trade Without a Stop-Loss. You Show Me A Trader Who Trades with a Stop Loss I will Show You a Looser Every Time. I donít Know of Any Successful Traders Who Trades with a Stop-Loss, Period. Their Never Will be Because Markets are Volatile, they Noisy, they Go Up and Down Up and Down Even Inside a Trend.
Whatís Even Worse Than a Stop Loss is a Tight Stop Loss, funny isnít it. Imagine This Someone is On the Other Side of That Transaction, Someone Put This Information Out. Well Here is The Deal They Could Take All of Your Money in One File Swoop, Well You Know They Not Going to Do That Because You Might Just Get Pissed-off. And if You Pissed-off Enough You Might Sue Them and Cause All Kinds of Noise They Donít Want. So, They Will Take It One Tiny Little Stop-Loss at a Time-One Stop Loss at a Time.