A large percentage of traders use locks, locking in their trading. Based on my experience, I can safely say that at least once you put them in your trading activity, you are almost 100% likely to merge the deposit. I guarantee it.
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However, on the Internet, you can find the opposite opinion. Other experienced traders believe that locks are a smart tool that helps to wait out and earn more money. They can and should be used. I do not agree with this and will continue to tell my experience.
If you are still using the lock, then we are coming to you!
From the point of view of practical experience and common sense, the lock itself is not necessary. After all, if there is confidence that the market will go in the other direction, then you can simply close this position and open it in the other direction. What’s the lock for, then?
However, many traders continue to use it, losing their money. I can say with confidence-there is no such merchant who has not burned himself on this topic.
But what is a castle anyway?
The lock is an attempt to delay the decision to close the transaction, and it does not matter whether it goes in plus or minus. Of course, most often the lock is used when the transaction is at a loss. Hence the view that merchants who use locks are cowards who are afraid to accept a loss. The position must be closed, and the trader hesitates and does not close it.
Locking is an escape into the world of illusions, an unwillingness to accept reality. The trader goes into the world of fantasy, he hopes that in the future the transaction will necessarily close with a profit for him. I do not approve of this approach to trading.
Each transaction must be mathematically justified, otherwise it is not a game on the stock exchange, but a game in the casino. To base your activities on dreams and illusions means to drain your deposit. But the lock gives a ghostly hope that the deal will eventually close in a plus and you can easily make a decision to close it.
There are situations when a trader has $ 30,000 in the account, but 28,000 of them are locked, so only $ 2,000 is in free circulation. Such a person will believe to the last that 28,000 is not a loss, because the money is just waiting in the wings. Such is the human psychology — if there is hope for a favorable outcome, people will believe in it to the last.
Don’t live in a world of illusions. The trader should keep a cool head and be fully aware of his actions. Without this, there will be no profit. Therefore, locks are not of any practical use. It is better to lose part of the deposit than to sit and wait for the price to turn in the right direction.
To summarize the above: a lock is a false hope, and hopes in trading are disastrous, so they should be avoided.