Quote from: Shenzou on Today at 10:20:22 PM

Quote from: Zilon on July 27, 2021, 05:39:52 PM

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.

In my opinion taking small profits decisions is based on poor decision making or not being confident about your trade especially if you are trading with a good amount , if that so i don't blame you but if you keep on repeating it than you have a problem and you need to work on your strategies and your methods, because it is a bad habit and will lead you to make many losing trades.

If I'm in that position, I'd rather have to stop trading for a while and take some moments to realize and find where I'm getting wrong and to evaluate if my strategies are still working or not. It is very important to improve our knowledge and skill, as having a losing streak means that there is something wrong with us and that is a need to take action first and settle it down before we continue otherwise, we could just keep on losing forever.