Quote from: Queentoshi on Today at 09:05:29 PM

Quote from: Rayan Oscar on January 30, 2024, 06:23:34 PM

When we start winning we get anxious about loosing our gains .we close trades prematurely to capture the profits before the price starts to drop again.wereas we should be holding on to it and closing appropriately to maximize the profit.
Conversely,when we start loosing we hold on to the losing position longer in the hope it will turn upward at some point.we have the irrational beleif that we will reduce or wipe out the lose without proper re-analysis.

So what is your proposed solution, do we hold on to trades that are in profit and always wait to when it gets to our TP before we take profit to always ensure we get maximum profit, and then quickly close trades that are in going the opposite way of analysis and signals placed. If that is how a trader reacts to the market, then they will close many trades in a loss due to pull back that can happen even before the charts start moving the way of our analysis. As a trader, whatever decision you take should be well reasoned out to make sure that they are not made based on emotions.

Yes it is true that most trades do pull back and maybe hits our sl before actually playing out.
If a suspicious chart pattern or candle stick forms that you are not comfortable with along the process and you feel the trade might go against you the best way is to set trailing stops on the trade. But what favours me most is by leaving the trade to either hit sl or tp. It just requires patience.
Cause most of the times it stopes you out when you set trailing stop and finally plays out to your final tp without actually reversing to the point of your sl. don't know if you've experienced that once