Eur/Usd Sudden Spike

[TradeOff]

Quote from nycderivtrader:

I always trade with a SL, simply because I do not want to get injured by a sudden move.... we all know what that is, as shown today.

I am trading with the SL at -2% of my capital, simply because I usually do not hold over night or weekends (I have never risked more than 7% of my capital). I am purely taking this trade as low risk to reward- low in what I can lose and high amount that I believe I can win. But, of course, this SL could knock me out anytime even I was right- just at the wrong time.

NYCDT

I respect your concept of your thought regarding your need for a stop loss.

But, consider this: Many times the price will move, snap out your SL then head into the direction you wanted it to move in, yet you are already out of the action - thus you have LOST what is most critical to trading survival - profits.

Continually losing profits is crippling. But it is what most traders do. Most traders ultimately lose though.

Do you trade forex?

Best regards,

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