You may have heard the voices of other traders about 'Bro, don't cut loss, bro, profit later' or 'Let it be profit later' even though the market conditions at that time have changed its movements.
Sometimes there are those who like to divert "Stop Loss" because they can't afford to lose. In fact, that is between the points you do not make a profit in forex trading.
So I am interested in sharing how to make sure you gain profits even in a 'ranging' or 'sideways' market, as well as a 'trending' market.
# 1 - Endure 'Take Profit'
These rules are closely related to your trading plan. Make sure you calculate your profit-loss ratio before making a decision for entry. For example, if you put the lot value together at $ 1 then the risk 20pips together with $ 20 and the reward should exceed the risk which is 40 pips along with $ 40. So the profit-loss ratio is 1: 2.
# 2 - Break-Even
This Break Even Technique may be people who already know it but rarely use it. Usually, I will shift my stop loss to the price at which I entered. The point is this after you enter and the profit has been running as much as 30 pips. You may switch your stop loss at the price at which you entered to make sure you don't lose. Easy right?
# 3 - Re-Entry
You may take advantage of your profits. If you hold a position for too long, maybe you are afraid it will break back and look for your Stop Loss. The trick is that you first need to close the initial profit and use the profit value as the risk of loss for the original re-entry. So you are only going to risk that advantage.
