Post
Topic
Board Trading Discussion
Re: Always take profit
by
Ultegra134
on 06/08/2021, 16:28:53 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.
If you're trading on Futures, don't ever allow a winning trade turn into loss because of your high expectations of it to give you an exaggerated ROI. Take your profit and run. Watch and wait for a better entry to make a come back. Most times it's greed that makes traders allow such a situation to hit them, and not because they don't have the knowledge of TA. You risk your capital doing that as margin call can happen at any time.

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
It's better to allow profit run than cut it short because of fear. Picking small winnings repeatedly can be wiped off with a single loss. Fear of losing isn't supposed to be something to consider for traders who want to cash out successfully. Professional and successful traders don't trade with fear in mind.
I was interested in learning how to conduct Futures trading, but I've heard that it's quite risky. When high risk is involved, it's safer to just collect your profit and go. I've faced the same conditions when investing in DeFi projects, despite the greed to earn more, I had to collect my earnings and withdraw, turns out that it was for the best.