Post
Topic
Board Trading Discussion
Re: Always take profit
by
jostorres
on 02/08/2021, 17:47:50 UTC
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.
There is no doubt that we must always try and end every trade in green (profit) and the benefits are beyond just profits. I will explain why and what benefits you get as you end each or most of the trades in green.

When you end up a trade, there is a particular sentiment towards trading you feel and when you make even 1 cent loss, the sentiment will always be negative while if the trade was closed in green, the sentiment will be positive which fuels you for future trades and gives confidence which is not just good but crucial for a successful trader.