DislikedGBPUSD +4.5 Explanation on Chart USDJPY +2.5 Explanation on chart Anybody have advice for how to not get out early.Ignored
Make a spreadsheet and record every trade you take. Record the TP you set and also the price at which you closed (early). Also record if the trade would have got to your TP or not had you not closed early.
If you have time, go back thorugh every trade you've taken and add them to the spreadsheet too.
THen once you have a sizeable amount of data, you'll be able to work out exactly what % of your trades you're closing early. You'll also be able to work out what % of your closed early trades would have gone on to target. You'll likly find that the % of trades you've closed early that would have got to TP will be high (it was for me). You can also record how much money you have not made by closing your trades early.
Once you have that % figure and $ figure, stick them on the wall in front of you, or on your screen. Every time you get fearful and want to close out early, look at that % figure and the $ figure. The number dont lie.
There are probably other better methods to stop you closing trades early but this really worked for me. There was a time when over 90% of my trades I would close early and the majority of them would have gone on to TP. But by recording everything in detail and working out a few calulations, everytime I felt fearful and wanted to close early, I would look at the stats and say to myself it will be stupid to close this trade early when the stats dont support it.
Having something written down in black and white infront of you can help sometimes. Hopefully it helps you
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