We should wait for more profit or should close the trade after getting small profit? - Page 176
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Thread: We should wait for more profit or should close the trade after getting small profit?

  1. #1
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    Cool We should wait for more profit or should close the trade after getting small profit?

    I am attached with this business since 2011 and my strategy is that whenever i get some profit then I tried to get more and more profit. Trading with this intention I have lost my whole capital several time and trying to overcome this bad habit. I think it is bad habit to trade with greedy mind, I think we should close our trade after getting some profit in order to survive in this risky and tough business.
    Dear member of this forum what is your mentality? will to continue your trade for more profit or will close your trade after getting small profit? please share your experience.

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  2. #1751
    Trader ola4real's Avatar
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    Quote Originally Posted by naeem555 View Post
    Abhishekwala, this is happen and i am also hunt by this thing many time, we people closes orders into smaller profit but in case of loss we wait for more and more time and in some hours we can lose more big or we lose all, not just this with every some time of loss we add more lots for recovery but that big lots add more loss and in end we loses all, i have lost 1400$ because of this mistake
    What you are trying to point out is a martingale style of trading in whom forex traders will be adding more lot size to a single direction. Forex traders who are trading the forex field has to make a good plan with it, and trading with martingale method is never the best. The best in forex trading is for traders to plan their forex business with good strategy and apply the money and risk management to that strategy. That is what I know that will not cause aggressive trading for the trader.

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  3. #1752
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    i think more profit is not safe way we should get what we have, so if we try to gain more and more profit from single order that is not good thought every order should have some limits because market not move huge on same time, it move in swing way so we can do better if we accept this thing and gain some specific limited pips from every order

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  4. #1753
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    Quote Originally Posted by touqir View Post
    i think more profit is not safe way we should get what we have, so if we try to gain more and more profit from single order that is not good thought every order should have some limits because market not move huge on same time, it move in swing way so we can do better if we accept this thing and gain some specific limited pips from every order
    We have to plan our risks depending on our account balance and further try to keep our Tp higher than the Sl. Usually scalping and similar strategies have lower tp and higher SL and that is the reason earning with these strategies becomes more difficult. We need good level of accuracy in analysis. Surety actually is not possible, but the set up see based on which we decide to take any trade should give us good probability for profits.

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  5. #1754
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    Your strategy determines your target and how possible you should look or hold up to a trade. If you don't believe your strategy, then it's possible that you could hurriedly exit with some small wins which won't help you last in the long term. Waiting for the right time to trade is very important so that we can confidently trade and look to maintain so much more profits from this business all of the time.

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  6. #1755
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    Quote Originally Posted by Ulthred View Post
    Your strategy determines your target and how possible you should look or hold up to a trade. If you don't believe your strategy, then it's possible that you could hurriedly exit with some small wins which won't help you last in the long term. Waiting for the right time to trade is very important so that we can confidently trade and look to maintain so much more profits from this business all of the time.
    we do not control our profitable orders for long and what happen, in end we lose all in single order, at the moment i am in big loss so what happens to me, when we believe market can come back we wait for more and more time and in that wait we lose more, this time i am losing big again, i do not have still huge hope but have little bit market will come back so waiting and lets see

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  7. #1756
    Trader Silhouette's Avatar
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    Quote Originally Posted by naeem555 View Post
    we do not control our profitable orders for long and what happen, in end we lose all in single order, at the moment i am in big loss so what happens to me, when we believe market can come back we wait for more and more time and in that wait we lose more, this time i am losing big again, i do not have still huge hope but have little bit market will come back so waiting and lets see
    There has been some ways to control our trading and hold our trades to get more profits as long as it's necessary to do. Look at the strategy we have if it's supporting us to get more profits, then don't fear to lose and hold the trades longer. As long as we got ourself supported, we'll be trading safely. In this case, our system must have a money and risk management included.

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    rules made to be followed, not to be broken

  8. #1757
    Trader juniorpeters's Avatar
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    most times waiting can make you lose more money and while closing too soon can make you lose bigger opportunity in the market.but its better to secure the little profit that you have made from the market than allow it slip away.unless you have a very good strategy that you understand and trust then you can live your trades to run.as a trader i don't settle for less i have a target and until i get it am not leaving the market.

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  9. #1758
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    Before closing a trade, you might have watched the market chart and see reasons why your analysis wouldn't work out. If you are confident that your analysis will go as expected, then there is no need to think about closing a trade. If you must also allow the market to reach your take profits and stop loss. We are the decision makers in our trade, so it will be wise enough to understand how we can build a promising trade and know how to also handle up our risk.

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