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How to let your profits run?

  • Post #1
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  • First Post: Edited at 4:23pm Aug 26, 2016 4:06pm | Edited at 4:23pm
  •  Undecided
  • | Joined Dec 2015 | Status: Member | 53 Posts
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.
  • Post #2
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  • Aug 26, 2016 11:27pm Aug 26, 2016 11:27pm
  •  domba
  • Joined Dec 2015 | Status: AMAZING!!! | 573 Posts
After set to be +1, let's profit run. Hold the following week
If you like my post throw me a Doge: DEycGd2MKZvxFb732UrSXNXey83jqrXn3u
 
 
  • Post #3
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  • Sep 6, 2016 11:02am Sep 6, 2016 11:02am
  •  Brill
  • | Additional Username | Joined Feb 2016 | 30 Posts
I think this where we need to avoid the emotional trading;
To increase your chances of making profit in the forex trading market, you will need to master your mind. Avoid getting caught up in the game of emotional trading. This kind of trading may seem easier to do and offer more excitement, but it may cause huge loses.
Not letting emotions get is a good way to avoid troubles.
 
 
  • Post #4
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  • Last Post: Edited at 1:26pm Sep 6, 2016 1:07pm | Edited at 1:26pm
  •  LDFX
  • Joined Jul 2012 | Status: Member | 970 Posts
Quoting Brill
Disliked
I think this where we need to avoid the emotional trading; To increase your chances of making profit in the forex trading market, you will need to master your mind. Avoid getting caught up in the game of emotional trading. This kind of trading may seem easier to do and offer more excitement, but it may cause huge loses. Not letting emotions get is a good way to avoid troubles.
Ignored

I am not sure what you are saying about "master your mind"

For me it's not about control, but just find the good loss size you don't care at all to lose, then you won't have any emotions involved because we are human and emotions is there and will always be, to trade in a cold blood way you need to be detached of the money you trade, only 2 ways, small money losses which you don't care or being a veteran trader.

Based on my own experience only, I think we can not control our emotions all day long all year long, who is the psychopath who does that anyway ? I could even add with some humor, that "we can control ourselves, some of us, some of the time but we can not control ourselves, all of us, all of the time."

To control yourself you will have to fight against your will, not the other way around, it means that if you have to fight your will while trading, 2 choices, trade with small money to be detached or go to rehab because it is what drug addicts do, they have to fight against their will all day long, all year long, and 95% of them fail...
LDFX Trading Ltd
 
 
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