EUR/NZD reaches our Stop loss before reaching our Targets due to the effect of “German ZEW Economic Sentiment (Sep).”
Lesson for the Traders : Sometimes, the traders says that “Market hits my Stop Loss and went into Profit direction more”.
This happens due to the following reasons :
1) Taking high lot and placing SL closer.
2) Dealing desk brokers will hunt your stop loss by widening the spread and having slippages.
3) Placing Stop Loss at exact levels (Placing Stop loss at exact level sometimes have chance to hit and then reverse up in a profit direction more).
Today, we have placed Stop Loss at Exact level, that’s the reason market hits our SL and then fly up more in a profit direction.
NOTE : If you place high lot and don’t follow money management, you will never get successful on this forex business.
Those who avoid the small losses will avoid the big profits too. Those who avoid failures will avoid the Success too.
We want all the traders to follow the rules on this business to do it successfully. If you don’t know the rules for playing Football, you can’t become a Successful Football player, Similar to that, if you don’t follow the rules of Forex Business, you can’t become a Successful Trader. Stick with the rules and instructions given here : forexgdp.com/follow
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