We all know your are supposed to cut your losing trades and let your winners run... let the trend be your frieynd.
i trade the eurusd 1 and 5min charts. mostly breakouts of chartpatterns, S&R, and trendlines.
i find i really have a problem with closing my positions to early, and with letting my losing positions stay open to long.
for example.
today i made 4 trades so far, my first was -18 pips, my second was +7 my third was +4 and my second was +4, so over all iam still down -3 pips.
every single one of my profitable trades today were closed early, and if i had let them to to their full potential each one of them would have been more then my losing trade, however, i find that when i get in profit i start to get nervous and when i see a tiny pullback and it heads towards breakeven i endup closing it and then regretting it 10 seconds later.
usually i will set a stoploss and sometimes a TP depending on the trade, and the circumstances, but i often have trouble sticking to my TP
any tactics, techniques, literature, ideas, videos, websites, etc. on this subject?
i trade the eurusd 1 and 5min charts. mostly breakouts of chartpatterns, S&R, and trendlines.
i find i really have a problem with closing my positions to early, and with letting my losing positions stay open to long.
for example.
today i made 4 trades so far, my first was -18 pips, my second was +7 my third was +4 and my second was +4, so over all iam still down -3 pips.
every single one of my profitable trades today were closed early, and if i had let them to to their full potential each one of them would have been more then my losing trade, however, i find that when i get in profit i start to get nervous and when i see a tiny pullback and it heads towards breakeven i endup closing it and then regretting it 10 seconds later.
usually i will set a stoploss and sometimes a TP depending on the trade, and the circumstances, but i often have trouble sticking to my TP
any tactics, techniques, literature, ideas, videos, websites, etc. on this subject?