Hi,
started with my first trades today and it went well...
... for IG Index, cashing in some of my money
Got trapped in the midday rally-try of DOW and earned a little bit back being short at the end.
I am fine with that as to learn certainly costs money and nerves...
So learning by asking:
As not starting with lots of money I have to keep my stopp-loss risky and close.
Figured out a good resistance and as it bounced back from that went long placing the stopp-loss 20 points under resistance.
Trade went in my favour first getting 25 points.
But now I did not know what do do first time. Adjust stop to break even? Would get my a chance of movement for no risk- great.
But stopp would be on line of resistance which is likely to be tested again, stopping me out with nothing and than moving up, leaving me with the right move and without money.
Or keeping the stopp, hoping for the resistance to hold, which did not happen, moving further down 30 points stopping me out, leaving me with nothing than...typing a question about adjusting stopp-loss here
Thanks for listening :innocent:
started with my first trades today and it went well...
... for IG Index, cashing in some of my money
Got trapped in the midday rally-try of DOW and earned a little bit back being short at the end.
I am fine with that as to learn certainly costs money and nerves...
So learning by asking:
As not starting with lots of money I have to keep my stopp-loss risky and close.
Figured out a good resistance and as it bounced back from that went long placing the stopp-loss 20 points under resistance.
Trade went in my favour first getting 25 points.
But now I did not know what do do first time. Adjust stop to break even? Would get my a chance of movement for no risk- great.
But stopp would be on line of resistance which is likely to be tested again, stopping me out with nothing and than moving up, leaving me with the right move and without money.
Or keeping the stopp, hoping for the resistance to hold, which did not happen, moving further down 30 points stopping me out, leaving me with nothing than...typing a question about adjusting stopp-loss here
Thanks for listening :innocent:
