Since I trade very small lots, I’d rather prefer to sit on a position for a few days rather than closing it at a loss. This has worked for me most of the time. And this is why you have not seen any trades closed in red since I started this blog.
The only time I close positions at a loss is when I am truly sure I am positioned at the wrong side of the market. Even then, I try to close them during short bull-run of a major news break to ensure I am able to recover at least the cost of the trade. Pepperstone charges $7.88 per 1 lot of EURUSD.
How I test my hypothesis/analysis?
I have a demo account that I trade on when I am not so sure about a certain pair or it’s direction. The demo account was started at $5k and currently stands at $14k. I am not going to post any screenshots for demo account on this website because that’s going to confuse everyone. If you want to see a screenshot of the demo account, drop me an email.
Time to get back to following the Asian market!