True, so also is the wisdom of taking profit before it turns to a loss. While the fear of losing money makes us take profit too soon, greed for more (disguised as patience) may make us loose what's on the table. Having a trade plan and executing the trade plan is a major step to solving the conundrum. Trade safe and prosper.
Originally Posted by dianajs
Today I once again made the mistake of closing a position too early. I still profited, but if I had been patient I could have profited more. Patience is one of the keys to good trading.
in my opinion forex is a constant learning curve. the moment you stop looking for things that can improve your trades, is the moment you begin on the losing path.
the most important part of my trading game that i am constantly learning more on is the mental part.
i have not had a trade today but this is entry forming ticks some of my boxes so i will just get in and hope for the best. That has been a killer for me that i have within the last 2 weeks really made an active effort to stop.
i get less trades but still meeting my targets + not losing as much so i don't need to trade more to cover losses.
Has taken a lot of stress out of trading for me.
Another is...entered into the trade, it went against me for a while, now i am a few pips up, better move Stop to breakeven. Price hits my stop and then continues in my favour to of hit my TP if i had kept the trade on.
All mental aspects. It is kind of crazy but so exciting and interesting all the mental challenges you have to overcome and you can not be in denial and blame others with forex.
What would you do differently this weekend to improve your trading?
During the weekend, I decided to trim down my Forex and Forum feeds because they were bringing me a lot of noise and distractions. So I felt the need to trim them down so that I can have some sanity and keep myself well-focused.