Things To Do While Waiting to Take Profit

  1. Take a fun trip from London to Niagara Falls-- In a single engine airplane

  2. Raft the Mississippi River

  3. Stand in line for a friend at your local motor vehicle department

  4. Fix the leaning tower of Pisa

Conversely, these are a few fun things you may try while waiting for your protective stop loss to get hit:

  1. Blink twice

  2. Stand up and sit down three times

  3. Hiccup

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These are pretty accurate.

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the best thing to do while waiting on a take profit is to get away from your computer and spend time with your friends and family or get distracted because sometimes the market may make some sudden fake outs that may scare you and make you close a trade early which may result in lost profit that you wouldve made if you wouldve been patient …

it also all depends on what type of person you are

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good point :+1:

Scratch and sniff, buddy.

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I’ll just put on a movie on my ipad and watch close to the computer. It is fun that way.

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i tried doing that too, but wasn’t fun, half of my concentration was in the movie the other half at my trade, it got messed up. rather i tried putting on my favorite music on the side and sing along.

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I’ll play a game or watch an action movie.

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:+1: good idea

I like to watch an episode on Netflix .

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I binge-watched an entire show while trading London one time. For me, it was the middle of the night in the US, Had a lot of fun.

BTW, I recommend “The Queen’s Gambit.” I got sucked in and couldn’t stop watching.

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Thanks for the recommendation.

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This is a better idea. Thanks :slight_smile:

Things to do when waiting for profit?

I guess I blessed I don’t have this conundrums. I can choose to stay in, go out, shopping, travelling, walking, eating even go down the pub.

My trailing stops take care of my profits, and I only have to move them once a day

Oh the joys of being an end of day trader rather than day trader!!

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I did something similar to that. I had a tight tight SL and lost out on a very nice breakout. But, had I been watching this breakout, I would have gotten scared and closed it manually. It had a nice upswing, right after my exit.

My problem was that I had lost a few trades in a row that week, and I was getting scared. So, I set a tighter SL. I broke my own rule and didn’t allow room for the trade to breathe.

That’s a good idea. I usually do that.

That would have been a fantastic scalp. Perhaps both ways!

But for swings, gotta have the stop at the prior swing level. That’s why I suck at swing trading. I hate being in the market that long. I just don’t have the patience for it.

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I hear ya. I’m the opposite. I don’t have time for short-term trades.

I think you’re being honest with yourself about what trading style suits you. And that’s a difficult thing to do.

I wanted to do short-term trades at first, but I have a lot going on. Therefore, I have to look at trading really slow charts.

@steveepperson Keep scalping!!! Do it for those who can’t!!

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When I open a trade, the first thing I think about is how to manage the trade. When I move towards 20 pips profit, I bring the stop loss to the entry point and close the half lot. Then I confidently left the trade for making a take profit level hit.

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You are talking FOREX, right? Is there such thing as a 20 pip profit?
(Just teasing) :joy: :partying_face:

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