Regardless, I have stops south of .9000 AUD/USD for the weekend, but you can bet my fat arse I'm pulling them Sunday at 1500 hours. Can't have those pesky stop orders messin up my Nightingale stragedy.
It's like this thread just threw risk management out the windows. You guys might as well average down and use martingale strategy if you want to blow your account in style.
Ok, how about 500 pips in 2 hours at 2am while you're asleep, and then another 800 pips before any kind of meaningful rebound, that short enough for ya? There are dozens of examples like that. Hey you do it your way, makes no odds to me, but other novice traders read these forums so they need to know the risks involved. If you can handle a trade going 1300 pips against you and have margin and unrealized loss equity tied up for days/weeks/months/years then fine, most professional traders don't trade that way. Could this be you!
Now you're talking about something else altogether, trading out of a losing position. That requires some quick thinking, fancy footwork, and good strategic planning, it's not something you do on the spur of the moment because a trade is running away like a freight train and you don't want to lose!
I am not discussing that. You might be right, and you might be wrong. Whatever it is, I'll keep my patience and discipline and you do whatever you do to "control" the market. PA
Martin Gale? Never heard of him! Spreads just widened for the weekend. I better go close some trades!! LOL, I'm hilarious.