Ask yourself why do you trade

[Alpha322]

IMHO Tick sizes that BA have put on the software is the best staking method. There is this myph about staking the more you put through the more you win, yes true but the more you lose and what you lose some traders don’t stop to think can their trade capital take those losses. Then the capital leads to completely being wiped out. Tick sizes controls that, it balances your losses and gains, I will always advice newbie traders (not gamblers) to go for a 1:1 ratio, if you get out at 5 ticks go for 5 profit. I trade with tick sizes,on a 1:2 ratio, dont get the full 10 ticks all the time but i make sure i get at least 6 or more depending on the market. I have kept my bank for nearly two years with some nice monthly profits that assisted in getting a nice place with a nice new trading room in it. Why do people trade, if your first answer is to make a fat wad of cash then your approach is wrong, if you answer is to gain constant profits over a period of time then this is the correct mind-set, because that is what trading is. You must have an edge for making those profits too. I must admit with what Z says about stop losses they are a waste of time, but what I don’t agree with what he says is you make the trade run against you and add more cash, but if it works for him so be it, I cannot tell him he is wrong doing that, I know it wouldn’t work for me. Stop losses, you can be the stop loss just get out, I know some people will say easier said than done but honestly its about that important question what are you trading for?? Once you can answer that and really be honest with yourself then you will be successful. If you do not use the Stop loss and can get out where you are supposed too, even if a spike hits you then that shows you are a good trader. Ok what do you do when you are spiked, here’s what I do I GET OUT of the market. I then wait for the price to re address itsself then trade down to where I should normally get out and red up for the loss, I never fight a trade if am wrong am wrong. If you trade and you get say 10 trades in a row wrong, there is something wrong with your entry method, they call this drawdown but I don’t believe in it, if its not going my way I shut down for the day and do lots more other things I enjoy, check the word ENJOY, you have got to enjoy trading to make it work win or lose. If you want to do Peters Master class I would advise you too, it will all come together over time, don’t rush, it will all fall into place. One of the things why people get spiked is they get in the habit of offering to much money at the front of the cue, that’s the other thing how you trade do you offer or are you a taker

Good luck and enjoy