Whats the general Rule? I've been making 100 pips very. But by simply looking my current loion today, I've drawdown.
Short gold @ 759.0, now spot 785.0, I am down 260pips (3.4%). Little lot however, the pain is there and I am wondering when I should trim. Should I hang on to my analysis that gold endure the drawdown, and should be around 740. I am very perplexed. I lose money very easily too, although I know how to generate income.
Previously I've cut 500pips losses just to see it going back in the first direction. Ever since that time, I tried keep losses to 100pips but when I am so disciplined to reduce every time that I see -100pips, I'll lose more than I make (for some reason, chart always go against me first prior to heading my way). What exactly if I do? What is the number or technique. Please share.