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.
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.
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.
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
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.
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.
All times are GMT. The time now is 09:42 PM.
Risk Disclosure: CLIQforex will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
CLIQforex would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore CLIQforex doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.