Howdy,
analyzed each of my trade of this weeks M5 PASR Trend Trading (23 in total).
Conclusion: I don't take profits.
I have been in a trade with a 30 pips SL, reaching 90 pips profit.
Only took 20% off the table at 30 pips profit. Rest of 80% gone to breakeven. HOW DUMB!
I left soo much profits on the table. Need to change that.
My conclusion out of this:
- take 50% profit at RR of 1. Move SL to BE.
- take rest off the table at RR of 1:1.4
This results in a overall RR of 1:1.2 - I don't care what price does after that.
I know that we should ride the trend until it ends, but for now I need to do it like this on a purely mechanical way.
Reduces stress as well as I have my targets already set when entering.
Surely I will change this in the future, but first I need to learn to take profits (sounds ridicoulus).
Best,
Scrumy
analyzed each of my trade of this weeks M5 PASR Trend Trading (23 in total).
Conclusion: I don't take profits.
I have been in a trade with a 30 pips SL, reaching 90 pips profit.
Only took 20% off the table at 30 pips profit. Rest of 80% gone to breakeven. HOW DUMB!
I left soo much profits on the table. Need to change that.
My conclusion out of this:
- take 50% profit at RR of 1. Move SL to BE.
- take rest off the table at RR of 1:1.4
This results in a overall RR of 1:1.2 - I don't care what price does after that.
I know that we should ride the trend until it ends, but for now I need to do it like this on a purely mechanical way.
Reduces stress as well as I have my targets already set when entering.
Surely I will change this in the future, but first I need to learn to take profits (sounds ridicoulus).
Best,
Scrumy
Accept the risk!
1