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  • 🇬🇧 Retail Sales ex Fuel YoY (MAR) Actual: 7.9% Expected: 4.5% Previous: -1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales YoY (MAR) Actual: 7.2% Expected: 3.5% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales ex Fuel YoY (MAR) Actual: 7.9% Expected: 4.5% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Public Sector Net Borrowing (MAR) Actual: £-28B Expected: £-22.5B Previous: £-16B https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales YoY (MAR) Actual: 7.2% Expected: 3.5% Previous: -3.7% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Retail Sales ex Fuel YoY (MAR) due at 06:00 GMT (15min) Expected: 4.5% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Retail Sales YoY (MAR) due at 06:00 GMT (15min) Expected: 3.5% Previous: -3.7% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAR) due at 06:00 GMT (15min) Expected: £-22.5B Previous: £-19.1B https://www.dailyfx.com/economic-calendar#2021-04-23
  • Gold Prices Pause Rally as India's Covid Infections Surge, US Jobless Claims Fall https://www.dailyfx.com/forex/market_alert/2021/04/23/Gold-Prices-Pause-Rally-as-Indias-Covid-Infections-Surge-US-Jobless-Claims-Fall.html https://t.co/9RirRjOekY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.68%, while traders in Germany 30 are at opposite extremes with 70.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vbeOzxRu74
If You Enter on the Hourly Chart, Exit on the Hourly Chart

If You Enter on the Hourly Chart, Exit on the Hourly Chart

Thomas Long, Course Instructor

Then if the market continues to move against them, they move out to the hourly chart to look for a reason to stay in the trade. As the market continues to move against them, they shift to the daily chart to hope to find a reason to stay in the trade. The next step is to get a margin call because they have no funds left to maintain their position. Of course, the main issue here is that they were looking for a way to stay in a losing trade rather than closing it out at a small loss. Taking a loss does not mean that you do not know what you are doing. Too many new traders think that losing a trade means that they are losers or that they aren’t smart enough to trade. Nothing could be further from the truth though. Professional traders understand that if they trade, they will have losing trades. That is really the only guarantee in the field of speculation. How you handle those losing trades has as much to do with your success as a trader as any other factor. You don’t have to like losing, but you must accept the fact that all trades cannot be winning trades. You have to keep those losing trades small enough to be able to make up for them with your winning trades. Switching time frames to justify staying in a trade is not how you keep your losses small. Identify your exit point before you get into the trade and stick to it. Judge yourself from month to month rather than on every pip move in the market. Be consistent in your approach and stay in one time frame from the beginning of the trade to the end of the trade.

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