How do reduce the unnecessary trade?

I don’t know how many traders who set up the orders in advance as the same with me.
My method is to set up the order in advance and let the market execute the orders automatically I often execute these already concluded orders because of changeable moods . So I often lose due profits .

Please give me some suggestions from all of you

Do you mean that you often manually close positions too soon because of your feelings instead of letting them run, hopefully to their target?

If you are hitting your target profit but missing out on more profit then why don’t you adjust your target. Try moving your ratio a little higher if this is a constant issue.

I sometimes quickly close some trades if I have set a number of entry orders and unexpectedly all of them were triggered. Some of those culled are very small winners, some very small losers, but better to close them before they have the chance to become bigger losers.

Yours, or the market’s?

How do you execute an “already concluded” order?

I’m not trying to nit-pick: I just don’t understand what you’re asking - sorry (looks like those replying above perhaps had the same problem as me?).

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:stuck_out_tongue_closed_eyes:
My meaning is the same as MAXNN said. .

OK. This actually seems to be quite a common problem for traders and is entirely natural.

We may often have an order filled and see it start to earn a profit - and then immediately start to worry in case it might reverse and we lose that profit. And, sure enough, as soon as the price starts to reverse a bit we jump in and joyfully take the remaining little profit…but after we have closed it, the price then continues into its original direction and often reaches our original target level. And our earlier joy at saving a few pips turns into instant annoyance and frustration with ourselves for not having trusted our original plan and interfering with it.

Be assured it is nothing unusual! :smiley:

Your question then is how to avoid this!

Firstly, you must learn to have trust in your strategy. If you trust it enough to place orders in the market at a pre-selected level then why not have the same trust in your pre-selected target levels? It is only the fear of loss that takes over and smothers your trust. Probably, if you were trading on demo, you would not have this problem of interfering with the trade once it is activated because the profit is not real?

Secondly, you have to realise that taking premature profits is actually damaging your overall money management strategy. If you tend to regularly cut your profits too early but let your stops remain the same then you are seriously damaging your chances of overall profitability.

We have to accept that losses are an integral part of trading and are nothing to worry about. The technique is ensuring that the sums arising from these losses are minimised and the sums arising from our wins are maximised. Do not clip your own wings and become a chicken when it comes to letting your profits run to the pre-selected level! :smiley:

I once did a survey of my own performance in this matter and the results showed that, at best, I managed to gain from premature manual closures in 50% of the cases - in most situations I would have been better off letting the positions run to their original target, stop, or reversed signal.

I am sure there are many others here with thoughts and advice to offer you here so that is enough from me for now…:smiley:

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100% agree with Manxx.
This is a very common problem with traders, something ive highlighted previously, so you’re certainly not alone saintKLASS

You can filter out your trades by many parameters; add more fractures on your trading. Hope this helps you.

I really appreciate your precious advice

unnecessary trade always bring unfortunate risk and losses but by means of real trading discipline there is a chance to reduce unnecessary trade.

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Haha this often happens to me as well. I decide that I want to place several orders just in case because I don’t expect all of them to be triggered but Nop, sometimes all of them are triggered. Then I need to rush and close most of them in order not to be stopped out and get a bit frustrated if they are on the losing point but it’s just part of the journey. I still learn to control my emotions in such cases because as you mentioned, often they lead to failure.

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Yes putting our self in unnecessary risk is not a right way one can not make high profit with high risk . He need to pay attention to discipline and plan then how he will face trading with good strategy . Reduce your loss with your skill ,not go towards unrealistic trades that will put you in danger.

Something agree , sometimes we fall a unnecessary situation even though there is a proper money management problem , actually when market moves at random that time no calculation not works accurately in spite of having real risk management.

:slight_smile:thank :slight_smile: :slight_smile:
thanks.

can you please elaborate what you thinking about unrealistic trade ?

First of all ,you must find out whether you are speculating or investing.

You need to follow your strategy closely and not open trades because of emotional whims.

We the traders have to follow most analyzing powerful trading strategies that always bring profit with certainly. but generally it is more difficult to make sure a right trading strategy.

trading strategies is the foremost source to bring result in Foex trading , but our strategy now works when use in a real account due to lacking of regular practice. so, if you want to get maximal result from your trading strategies try to be regular in practice session , minimum be consistence in demo or micro 6-8 months.