Dislikedentered a trade 7 hours ago and sat in front of my com, watching the price hover around my entry price. i clenched my fist, bit my lips and told myself NEVER NEVER TO CUT PROFIT!!!!! (I was tempted to close the trade for less than 5 pips for fear that the price will move against me)
FINALLY!!!! I CLOSE MY TRADE FOR +40!!!! I AM SO HAPPY!!!!!!! I WANT TO BREAK MY FATAL HABIT OF TAKING 2 PIPS PROFIT!!!
yesterday and the last 11 months of trade was a wake up call for me.... if i were to succeed in forex trading, i needed to change my habit.
thanks...Ignored
[Entries and Profit Taking]
If you are good with your entries, the minimum profit target you can go for is 10 pips (for scalpers), but ideally take your profits at technical level.
[Let your profits run as much as possible]
Generally try not to take profit until you see the momentum in your desired direction dying off at critical support and resistance level.
'For the market to work, it needs people who think that they can beat it.'