Hey guys,
I've established a system that is based on support and resistance levels. Here is a problem that I tend to encounter. I have no problems dealing with losing trades. Occasionally, price tend to go against me for a while before heading in the direction of my trade. I have no problem with this, and I have no problem if it hits my stops that I place strategically.
The problem I encounter is when the trade becomes profitable. When the trade is in the money, my mind becomes f*cked up! It starts to haunt me. It terrorizes me! I have to close the trade to lock in the profit the moment I'm 10 or 20 pips in the money. Usually, my target is above 40 pips in the money, and most of the time after hours, price does reach my profit target without approaching my stops at all! This is seriously affecting my R:R and in the long term, how profitable I will be!
It is a constant struggle and after more than a year of trading, I still cannot come to terms with. I need help guys! Is there any way I can "train" my mind to accept the fact that I'm making a right decision? It's weird, I have no problems crashing down a steep rocky slope on a bicycle, yet it irks me to see the market fluctuating when my trade is in profit.
I've established a system that is based on support and resistance levels. Here is a problem that I tend to encounter. I have no problems dealing with losing trades. Occasionally, price tend to go against me for a while before heading in the direction of my trade. I have no problem with this, and I have no problem if it hits my stops that I place strategically.
The problem I encounter is when the trade becomes profitable. When the trade is in the money, my mind becomes f*cked up! It starts to haunt me. It terrorizes me! I have to close the trade to lock in the profit the moment I'm 10 or 20 pips in the money. Usually, my target is above 40 pips in the money, and most of the time after hours, price does reach my profit target without approaching my stops at all! This is seriously affecting my R:R and in the long term, how profitable I will be!
It is a constant struggle and after more than a year of trading, I still cannot come to terms with. I need help guys! Is there any way I can "train" my mind to accept the fact that I'm making a right decision? It's weird, I have no problems crashing down a steep rocky slope on a bicycle, yet it irks me to see the market fluctuating when my trade is in profit.