I am usually closing 50% of the trade when I see price action topping and move my sl to BE. Also it`s important to keep in mind that you can never catch the whole move.
Exiting a trade and taking partial profits 5 replies
Taking profits early, is this a sensible trading strategy? 14 replies
Exit Strategies for Taking Profits 3 replies
Timeframes for taking profits on 15min, 1hour charts? 3 replies
Taking partial profits? 2 replies
DislikedI am usually closing 50% of the trade when I see price action topping and move my sl to BE. Also it`s important to keep in mind that you can never catch the whole move.Ignored
DislikedI agree that there are times when you feel like you have got out early..it happens to all of us. Apart from the reward to risk ratio, have a well defined exit strategy, adjust your SL if you think it is required..and log all your trades.Ignored
Disliked{quote} What is the point of logging your trades? You have history, isn't it enough?Ignored
DislikedHi All, I need some help! I have an issue where I can't help it but take profits way to early! Over the past few days this has actually cost me at least £1500 maybe more! I really need to learn to overcome this. Has anyone been there and come out the other side? If you have please could you advise me on how best to overcome this... EmporiaIgnored
DislikedA good way to overcome this is to convince yourself of your decision to make a particular trade, your reasoning should be 'I believe the market will move from the price I enter and will hit my profit target before it hits my stop loss order.', then leave it, walk away and don't look at the charts for a few hours.Ignored
DislikedWell my friend. I suggest you wonderful reading below extractions from the article "Have you ever asked yourself why you take profits too early, but let your losses run to the full stop? Have you ever wondered why you feel the tension, emotion and desire to close your winning trades too early before hitting your take profit level – even though the trade is already in profit and moving favorably for you? " There is an underlying reason for this, which actually goes beyond your emotions, trading history or experience. It is always present, yet is...Ignored