This is a common problem, here are some suggestions:
1. Reduce your risk as low as possible. Doing so takes the edge off of fear of loss. As you develop as a trader you can increase your risk.
2. Clearly define your reasons for getting out of a trade. You have your reasons to get into a trade, make sure you know exactly why you should get out. The more specific you can be the better your odds of staying in when you should AND getting out when you should.
3. Evaluate your trades every week. Don't be overly critical on your mistakes, they happen and it is a part of learning to trade. If you got out based on emotion, make sure you evaluate why. Eventually you will get to the point of following your rules without emotion.
4. If you have your stop set and (for example) you are trading the 4 hour chart, is there really a reason to sit in front of the computer for hours on end? Nope. Walk away and come back in 4 hours (or longer) to re-evaluate the trade. I have made more money away from the computer than I ever have in front of it.
That's all I can think of right now without getting into some pre-mature exitication jokes. LOL!
1. Reduce your risk as low as possible. Doing so takes the edge off of fear of loss. As you develop as a trader you can increase your risk.
2. Clearly define your reasons for getting out of a trade. You have your reasons to get into a trade, make sure you know exactly why you should get out. The more specific you can be the better your odds of staying in when you should AND getting out when you should.
3. Evaluate your trades every week. Don't be overly critical on your mistakes, they happen and it is a part of learning to trade. If you got out based on emotion, make sure you evaluate why. Eventually you will get to the point of following your rules without emotion.
4. If you have your stop set and (for example) you are trading the 4 hour chart, is there really a reason to sit in front of the computer for hours on end? Nope. Walk away and come back in 4 hours (or longer) to re-evaluate the trade. I have made more money away from the computer than I ever have in front of it.
That's all I can think of right now without getting into some pre-mature exitication jokes. LOL!