Hello everyone, im on the path to become a consistentcy trader and im trying to be honest with myself and one thing that I notice is that I dont have proble to lose 1R if the trade doesnt work, but if im 1R above or more i have the urge to close the trade or tight my SL to dont lose what i won, is tough. for experienced traders, do you have some advices or books to deal with the greed? thank you
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Finding the right time to exit a profitable trade is the hardest question in trading. Getting it wrong can see the majority of winning trades becoming losers.
There isn’t a universal correct answer to this question. You can find your own strategy’s unique answer by trial and error - start at exiting winners at +1r. After a large enough number of trades you should be able to estimate whether you an increase your profit level to for example +1.5r. And keep doing this until you find a point at which the extra profit your target should bring is neutralised by the reduction in frequency of the target being hit.
You need to use a very standardised strategy and stick to it very strictly in order to make your statistics dependable.
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Pipsology has some answers. Have you completed Pipsology?
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I didnt know about that, i will complete it, thank you
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One way might be to change your approach and replace R:R ratios with something different.
I don’t use these at all. I figure my target level from a logical level according to an S/R level or a trendline or an MA value, etc. Others may use Fib numbers etc.
In the same way, I figure my stop level at a point where, if the price reaches it my reasons for being in the trade are negated and its time to get out.
After a while these levels kind of stand out from the chart without any measuring.
But the key point is that the reward offered by the target should make sense with respect to the stoploss value. This does not have to be mathematically derived, just an intuitive look at the relative levels is enough to justify whether the trade is worth entering or not. No point in only looking for 10 pips if the downside is going to be 60 pips!
In this way, there is no R value to get in the way! 
One other practice I would recommend is similar to what @tommor says above. When you journal all your trades add two more columns: one to record how far the market actually went (regardless of where you got out) and one to record had far the market actually went against you. These two figures will gradually build up a statistical base showing how far your particular market tends to move in both directions whenever your method gives you a signal and this helps to optimise where you place your target and stop orders.
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It’s right, many winning trades becomes the lost one. In many cases, if I don’t adjust stop loss above entry after my trade has profit then the price will go against my way and hit stop loss. If I adjust stop loss above entry a few pip then the price also goes back and hits stop loss and the trade ends with a small profit instead of a bigger amount before the market changes its way. It’s very difficult to find the right time to exit the trade with maximum profit.
In a trend market, you could aim to move your S/L to breakeven plus one pip only when price reaches breakeven, and then use a trailing S/L
Or just leave it to run to your chosen T/P level by closing your desktop for the day.Go for a walk instead.
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Is a good strategy, if im think that i could make a emotional decision i prefer to go away from pc and dont do something stupid.
I agree, at least for me i only measure my wins by R’s but I always put my TP in key level but that fear to lose what you earn while the price is moving in your direction is hard to handle it. like, is a pullback or a reversal? probably journal will give me more confident. Thank you
Fear is a typical emotion felt by traders while they are engaged in trading. It is in one’s best interest to think like a trader. it would be beneficial to decrease unnecessary fear and become a professional trader.
Trading is about managing stress and fear is normal. However, as soon as you notice it interferes with your trading, you should address the problem. To be a successful trader you need to trade without fear. You need to stay focused on mastering the steps in achieving your goal and not the end result.
I had the same problem when I was a beginner. But soon I realised that such fear only limits our profitability. Monitoring your trades is a good practice but you should not keep your eyes glued to the screen all the time. You should just leave the trade to run on its own after placing a stop loss. That’s the only thing to do until you overcome this fear.
I think some kind of fear is always important because only then, we do the proper research and take each and every step very consciously and things done with such precision mostly results in positive output. Fear of loss is better than actually facing the loss.
One should realise that it’s a necessary part of the journey. Thinking of it as a lesson rather than a burden will keep you motivated.
A trader who lacks a proper trading strategy and a tolerance for losing money may grow fearful of losing money, which may make them reluctant to enter the market at the appropriate time. Missing the greatest entry because you were self-conscious may become a terrible habit.
Fear is a normal and natural emotion that all humans experience. It is in your best interest to refrain it from your trading. And the only way to accomplish this is by developing self-assurance in one’s own capabilities and level of experience.
If you are confident enough on your trading skill; then there is no need to be scared if you face any SL; and of course you can’t expect 100% success ratio here!
I think it is about money and management the right way. If we do, it is acceptable for a trader’s trading. Along with that, awareness of what may possibly happen is crucial. But if a trader is too much aware of that, a trader cannot trade because their mind is not on trading but on what possibly can happen.
i think eventually you accept that losses are inevitable. you just try to have a consistent performance that your win outweigh your losses.