Taking Profits too early?
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Thread: Taking Profits too early?

  1. #1
    Hi All,

    I Want some help!

    I have a problem where I can not help it but take profits method to early!

    Within the last few days this has actually cost me #1500 more!

    I truly need to learn how to overcome this. Has anybody been there and come out the other side?

    If you have please would you advise me on how best to overcome this...

  2. #2
    Thank you for the input that makes a lot of sense. I have read Trading In The Zone several times and have really just got his two day seminar recording so will watch that.

    I will need to think of an appropriate exit egy...

  3. #3
    If you believe you're taking profits early the do as indied. Keep a record of your transactions.
    Put them in a spreadsheet
    Include in your spreadsheet how much the maximum would have been if you'd stayed on the commerce
    Try to be honest about if / when you would have moved your SL to BE
    You must then have the ability to compare the way your results MAY have proven in case you had not exited where you did. You have to be realistic about the max, because it is very unlikely that you would have left exactly in the max.

    The matter is that without complete documents, we constantly remember or notice the transactions we exited with 30 pips and then went on to make an extra could of/ would of/ should of 70 pips.
    We do not tend to notice the transactions that if we had not exited where we did and it could have reversed and hit our SL

    By far the best way to check is at real time.
    Instead of closing your transaction too early, shut half of the position and let another half run.
    That way you will have a record in your own trading account. You may see which half averages out to more profit over a period.

  4. #4
    Quote Originally Posted by ;
    Hi All I need a help! I have a problem where I can not help it take profits way to early! Over the last couple of days this has actually cost me at least #1500 more! I really need to learn how to overcome this. Has anyone been there and come out the other side? If you have please could you advise me on how best to overcome this... Emporia
    That is a common issue for most of the traders. I also had this earlier that is mainly associated with trading plogy. I suggest you to come up with a trading plan and stick to the rules as per your trading plan. Hope that make sense.

  5. #5
    I've got this habit of shutting my winning trades too early and maintaining the shedding ones running until they reach prevent loss. I really don't know what is the main problem with me for doing this.

  6. #6
    Quote Originally Posted by ;
    I've got this habit of shutting my winning trades too early and keeping the shedding ones running till they hit prevent loss. I don't understand what's the problem with me.
    When you see a trade showing some profit, you will be fearful that the market will return, so you shut out to be confident of making a profit.
    When a trade travels into reduction You'll Be fearful that if you shut early and limit the reduction which the market will reverse and proceed to your TP without you board

  7. #7
    I would recommend keeping your take profit as the only way to exit a trade profitably. The only time I'd get out of a trade too soon is if the market is showing evidence of a reversal.

  8. #8
    Handling the trade is so much more important compared to system/entry. No system I found incliqforexincludes a proper trade management rules set. This is surely the most innovative topic and also the least one. Can someone explain me why this has been moved to the Rookie section?! Beats me.

  9. #9
    It's a perpetual problem with many traders. They take profits but allow losers run.

    Something to do is ask yourself the question If I wasn't in this trade today, would I input in the opposite direction? Attempt to take the plogical attachment off when you ask the question. In case the solution is a resounding no then you're likely great to hold.

  10. #10
    I guess we cant endure profits making a hole in our pockets....this is certainly the hardest skill to master.

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