I continue my post about The 25 Point Discipline For Day Trader. And below is the 3rd and 4th point
#3 ALWAYS LOWER YOUR TRADE SIZE WHEN YOU’RE TRADING POORLY.
All good traders follow this rule. Why continue to lose on five lots (contracts) per trade when you could save yourself a lot of money by lowering your trade size down to a one lot on your next trade? If I have two losing trades in a row, I always lower my trade size down to a one lot. If my next two trades are profitable, then I move my trade size back up to my original lot size.
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Thursday, July 22, 2010
Today's Forex Prediction - July 22, 2010
Today's EUR/USD :
- MAX : 1.2758
- MIN : 1.2671
- MAX : 1.2957
- MIN : 1.2833
Yesterday Actual (July 21, 2010):
- MAX : 1.2914
- MIN : 1.2728
Yesterday Error :
- MAX : 0.33 % (+43 pips)
- MIN : 0.82 % (+105 pips)
Average Error (Until July 21, 2010):
- MAX : 0.21 % (16 pips)
- MIN : 0.42 % (54 pips)
Predicted for July 22, 2010 at 00:01- 23.59 GMT
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