No need to be sarcastic with OP, there are millions of people who have never heard of Google either, as we speak.
Have you run any backtests Try trailing stops - Test Trailing stops with different parameters - Like 2x ATR or % ATR, Low/High of last n days, closes, time exits, moving average of close below moving average of lows There are a myriad of stop types to use Google Stops Look up MFE and MAE and analyze it The MFE is the opposite of the MAE and it measures the largest observed profit during a trade
%% Mostly bad risk management ; but if limited to 2 trades per stock ETF/ reasonable trade size/ could work real well. Even more so as he gains experience...........................................FOR short term trading,3 tries most likely will be worse than 2 tries.[UNless you do focus on a few+ you said you are not,ok] {EDIT=worlds worst reason to trade/make up for a loss] IF he increases size,[2nd time to enter] most likely the worst thing he can do. Single buy or even single sell may tend to underperform a bit; but if he is trading to big like most of us did@ first/a single buy could outperform/LOL. [I use a 50day moving average, not of the lows.......... but its not much difference]Some experment with lagging 50dma + front running it, I do both.............................................................................................ACTUALLY with low or NO comissions, can be better to seldom add to a position, but that can be a a rare pattern; or a key reversal.........
Yes but my lot quantity is enough to cover my losses when I enter reverse after a successful trade. The probability of a losing trade is very low if I exit and enter in the reverse direction after exiting a false trade. Moreover as I am new I still dont able to control my emotions so three trade is kind of emotional stop for me to close and exit my trading station. A sort of discipline so that I would not take a trade with a clouded judgement and face more losses. I am working on it more day and improving my skills.