trading has been a difficult process for novices and minor traders. it could be tempting most times if you dont understand the market movement and TA. you might loose patience and cancel out a trade you might regret later. i have cancel out many trades that later ended up in huge profits. i have also cancel some successfully. i just curious to know if there is any sure way to this trading were by you hold on a trade.
I think it's a matter of discipline and confidence. because I used to be like you, when I was profitable I closed very early but when I lost I kept it for a long time. It's a bad habit that any trader has to quit. So the problem is to help us keep the profit order longer? The best way is to convince yourself. If you yourself are confident with this open order then you just need to follow the plan. for example, when the price has increased by about 7%, you will set a stop loss at 4%. so when prices are reversed, you still make a profit, and if the price goes up, the profits increase. I usually use this strategy and it's quite effective.
Yes indeed sometimes we lack confidence in the initial strategy that we have installed, for example we can simply hold back when the profit is more than 5%. But the market shows prices above that for some time, and makes us complacent so save even longer, when we neglect it turns out the market has been below 5% profit. And yes, whatever our decision, there are definitely risks. But again we must emphasize our confidence and enough with what we achieve, so we do not lose.