I was waiting gold to form swing from its bottom (1238). I did and went long which later we’ve dodged by that failed signal and stopped out by losing only 4%. Risk reward ratio for that trade was very good the target was 20% from that trade.
Importance of stop loss and not to lose money is if we didn’t stop out than we could face 25% drawdown. So if you are not losing it means you will win later.
Risk management, patience and discipline are the key factors for the successful trading. This trading system based on quality of trades not quantity of trades giving priority on risk management by not losing 2-4% per trade. Therefore it has very low drawdown.
We are very close to another trading opportunity with very good risk reward ratio. Once again let me remind you trading are a risky business so always place protection level.
Stay tune for more updates and thanks forextime for the wonderful platform for both strategy managers and investors