It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.
Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.
Whatever you said mate, it’s good to hear theoretically.
But as you know, the one’s who work online are often lazy.
So rather they would take no profit, then gathering 1$ profit every minute to gain the upperhand.
Yes it can be beneficial for someone who is new in trading.
But i know the rest of the traders will ignore it as they seek for bigger opportunities.