I received an email from FX Newbie who wrote:
Dear Mario, does a Forex trading expert make a profit in every trade?
In my experience, even though I always put a Stop Loss on my trades, I still keep losing more than I what I earn. What should I do?
Hi FX Newbie, an expert trader is able to make consistent profits, but that does not mean he/she will profit from every single trade.
The market is traded by millions of traders worldwide, hence we cannot expect the market to move in the direction that we want all the time.
There will be instances where the market goes against our trades and we just have to take our Stop Loss and move on to the next trade.
If trading is a football game, the Stop Loss is the goal-keeper. A goal-keeper is necessary for the game, but having one does not mean you will win the game. The same goes for a Stop Loss. Placing it doesn’t guarantee that you will make profits, but it is necessary to protect your trading capital.
There are many reasons why a trader is not making profits. The best solution is to find the right coach to help you identify the problem and guide you to rectify it.
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To your success as a profitable trader,
P.S. Ask me your most burning Forex question today!