DislikedWho else continues to watch price go against them even when your out at +4R ? I used to feel bad when I saw a chart like the one below. I see the setup, I enter, I exit with decent profit -5-6%, but continue to watch as price goes against where it 'should' go ? I still have that habbit of watching a pair even after a profitable trade just to see if I was 'right' ... at least I dont feel bad about it anymore ...But, I need to learn to close down the chart and just let it go ... Mike whats your take on this ? Any suggestions, have you experienced...Ignored
I'm confused on this price went to exactly where we would expect for a breakout situation(the base of the pattern). With that said many breakouts don't even make their base and that's why we want to always protect and move our stops up at the proper points just as you did. But i'm confused by meaning where. Or do you mean it kept moving short and you didn't catch all of it? If so that's just an ego thing really(a super common one). But if you have an edge those things are arbitrary. Meaning we know the market will go both for and against us when we exit. We can't be concerned with that since the market will still always do what it wants to do. Being logical when we ARE in the market is the MOST important thing. That's when we need to be in control of our money.
Let me know if that helped or I missed your question
Mike