This is my first thread, I hope it'll be useful
One of the major problems that face traders is that they cut their profits early then regret seeing their targets are hit while they are out of the trade. I tried a solution for this, it worked for me over the last four months, this solution is very good for swing and position trades.
The solution is simply to exit your trade and re-enter again with the same initial stop loss, the idea behind this is that we can easily be patient with our losers than with winners, so if the trade retraced you will not be hurry to close it.
Only one problem in this solution, it costs you more pips for exit and re-entry.
One of the major problems that face traders is that they cut their profits early then regret seeing their targets are hit while they are out of the trade. I tried a solution for this, it worked for me over the last four months, this solution is very good for swing and position trades.
The solution is simply to exit your trade and re-enter again with the same initial stop loss, the idea behind this is that we can easily be patient with our losers than with winners, so if the trade retraced you will not be hurry to close it.
Only one problem in this solution, it costs you more pips for exit and re-entry.