For me, regardless of whether it's a trend-following or counter-trend situation, I will always set a stop loss. Generally, when I open a position in the direction of the trend, I will enter with 10% of my position and even gradually implement Margin Replenishment. In a counter-trend situation, my position generally remains around 1%.
A position of 1% is only used to validate the idea. This is what I have been emphasizing for some time: when opening a long position, the position must be small, and stop loss must be strictly enforced.
For example, my current account is 1500U. When validating the idea of opening a position against the trend, the basic position is around 10u, and it will emphasize that newcomers should not follow. Those who opened a larger position should strictly execute the stop loss, and it does not fall within the range of the guided positions. When opening a position in the direction of the trend with a position around 200U, it will better support following the trade and does not strictly require a stop loss. This information can be found in the historical dynamics.
Open a short position above 3015, with a stop loss at 3050, and after the stop loss, place a short order at 3100. I can confirm that my thought process is correct, but I overlooked the issue of placing orders at round numbers, ignoring the low liquidity over the weekend, which unfortunately led to a short at 3097. Therefore, I will also emphasize in future trades not to place orders at round numbers like I did.
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For me, regardless of whether it's a trend-following or counter-trend situation, I will always set a stop loss. Generally, when I open a position in the direction of the trend, I will enter with 10% of my position and even gradually implement Margin Replenishment. In a counter-trend situation, my position generally remains around 1%.
A position of 1% is only used to validate the idea. This is what I have been emphasizing for some time: when opening a long position, the position must be small, and stop loss must be strictly enforced.
For example, my current account is 1500U.
When validating the idea of opening a position against the trend, the basic position is around 10u, and it will emphasize that newcomers should not follow. Those who opened a larger position should strictly execute the stop loss, and it does not fall within the range of the guided positions.
When opening a position in the direction of the trend with a position around 200U, it will better support following the trade and does not strictly require a stop loss. This information can be found in the historical dynamics.
Open a short position above 3015, with a stop loss at 3050, and after the stop loss, place a short order at 3100. I can confirm that my thought process is correct, but I overlooked the issue of placing orders at round numbers, ignoring the low liquidity over the weekend, which unfortunately led to a short at 3097. Therefore, I will also emphasize in future trades not to place orders at round numbers like I did.