Quote:
Originally Posted by martypatty
I'm almost positive this has been asked before. Instead of letting the trade sit there and wait till it "comes back home".....wouldnt there be more pips in taking a small loss and make the pair "live again" instead of playing the waiting game? Just wondering what your thoughts are on this. Marty
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Marty
You are correct in some ways and closing the "losing" trade may seem the proper thing to do but if it is in positive swap rate then you are actually closing out a winning trade.
Yes some trades can go down a thousand pips, just remember that if it went down that much then it was up there to begin there for some reason and if we take the time to go back through the charts then we can see that inflation and many other factors will return it there again eventually.
We are not looking to open and close trades here every day and make a profit.
Rather we are looking for some long term profit.
Ptience has its rewards.
Bernard