G
George Kramer
@george_kramer
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4 year trader
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UNPOPULAR OPINION: never trade more than one currency pair, it may be a waste of time, they are all correlated, you win one & you lose the other. Total waste of time
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Bears seem to be in charge this morning, I wonder what is drawing EU price downward, could it be rate hike positioning?
For me it would depend on how far away the SL is from my entry. If I open a trade and it is in say $20 profit, and price starts reversing, I would take the $20 and wait for a break of structure back to the former direction and then I enter again. Some people call it the Japanese boat jump technique. It wont make sense to be in profit of say $20 and then watch it go away. However, if I the trade is not yet in a reasonable profit, then I may choose to wait for it to hit SL.
Sometimes it is not just about closing your account and leaving. it could be that the broker offers something you cant find elsewhere and this could make you want to stay with the broker. For example not all brokers support API interfacing, not all brokers offer ETF trading etc.
Printing a PDF version of your daily account statement is also very easy on cTrader, this helps you analyze your performance after every trading day
Breaking the trade into smaller units is for when you want to enter after the first trade is profitable then you keep adding to your winning trades
One big withdrawal can bankrupt some small brokers, why do you think some small brokers delay withdrawals? Sometimes you deposit money with a broker and the shady brokers can use the deposit for something ese (commingle your funds) when you place a very big withdrawal they struggle to pay.
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