Stop triggered for this trade, loss is 116 pips.
Original trade:
Shorted AUDUSD at 0.6554
Stop level at 0.6670 (new stop level)
Target level at 0.6459
This is only my 4th losing trade out of 20 trades for this month, I am still up 480 pips in profit.
There are no strategies that work 100% of the time. Do not be taken in by anyone who claims that they have a forex trading strategy that will guarantee you profits. It does not exist. We can only talk about whether a particular strategy has a higher probability of bringing you profits and not which particular strategy is 100% accurate.
One important rule of trading is that if it is a proven strategy that works more than 60% accuracy of the time, you have to stick to it. Don’t throw it away when it didn’t work on you once or twice. Accept the fact that there will be times when the setups do not go the way as planned. If every trade are to work out profitable all the time, then there are no risks in forex trading.
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