When you take profits

Feb 12, 2019

You enter a trade and it is going in your favor, the profits are looking so attractive that you decide to make an exception in your trading strategy and close the position and cash the profits. Wow.. and then what happens!! You are out of the market, the trade is still going in your favor, and you are just calculating that you could have made so much more as now it is too late to enter the trade at this price. But voilà.. the human mind has an answer.. let's trade again and enter the market.. and you enter the same trade again but the markets have a different outcome planned this time, the steam is over and the trade is not going with that much force as earlier and is turning negative on you. So you take a heavy breath and get out of it after waiting and end up losing all your gains of that day. Lesson learned- you cannot change your trading strategy in the middle.. just keep changing your stop loss and don't get greedy.. aim is to win the trade.. the more trades you win, the more you will make.