Post
Topic
Board Trading Discussion
Topic OP
Letting your profitable trades turn loses(common trading mistake)
by
Rayan Oscar
on 02/02/2024, 21:27:56 UTC
There is no doubt that most traders if not all would have made or are still making the same mistakes.
   Making trading mistakes is part of every traders journey, whether completely new to trading or has been trading the markets for decades but still make some common trading mistakes.some of these mistakes are deadlier than others. The fact is there are some mistakes that are hard to accept for some traders. Ignoring a mistake and repeating it over and over again can spell the difference between becoming a successful trader or loosing one.

Letting profitable trades turn into loses is one of those.
  If you are making this mistake you are not alone.even some guru traders are guilty of this common mistake.
How many times have you perfectly timed your entry seen nice running profits only to see it melt down by a sharp reversal? (Though manipulations do occur at some point) I'll bet more than once.
Letting a profiting trade go bad is very annoying mistake but there's light at the top of the tunnel.
    The best way to correct this is by planning. Know your exit before entering a trade and develop your own trading exit strategies.

    You could use wild trailing stop for trending markets which are the best trading markets I'll recommend.
     You could also take a bit of your position off when the market makes some profits available.take a bit more as the move progresses and leave some on for the big wins. This process will help you take some profits and avoid sharp reversals.

Please do well to add your own strategy maybe it could help someone.