Why not re-enter the trade you said? Let me ask you a question Tiddlywinks: who said that a systematic position re-entry after a losing position (your stop was hit) will make you money in the long run? Re-enter all your losing trades and see what happens... On the other hand, if the logic behind the trade is still valid, then yes, re-entering a position makes sense, even though there is no guarantee that you will succeed the second time.
And your noo-bee-ness shines through... 1) YOU SAID This position triggered my stop by only 1.5 pips and THEN moved 50 pips higher in the expected direction. 2) No-one said anything about making re-entry a standard component of every trade. Inversely, One-shot: re-entry is not an option seems to the mode of operandi for most of ET. And for the record, I said I did not look at a chart. Wake up! Edit: I see you added a comment about a "still valid" trade. This would be a cause of confusion. When a stop is hit the ORIGINAL PARAMETERS are (usually) invalidated. That would mean a trade of the same type (ie re-entry) has DIFFERENT PARAMETERS (usually)
Thanks for your support Pinkman But you see, when I "lose" money trading, in reality I am not losing anything, I am simply loaning money to the market. After a losing trade, I look at the chart and simply say : "Ok Mister Market, you win this time, so go ahead, take a few bucks from my trading account. But hey, remember this Mister Market, it is only a temporary loan, you WILL not only return my money soon, but I will empty your own pockets as well, you can count on that!"
No no, absolutely no revenge trading here Boskop, on the contrary, it's called trading with confidence.