We should wait for more profit or should close the trade after getting small profit?
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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. #2
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    Sir, this is a very lovely question, and the answer to it is very simple. All the decision that the trader would make on his trading accounts should be based on the plans of the trader. If the plan of the trader is to take short profits, then he should not hesitate, if otherwise, he should wait till more profits is accrued. I am a long term traders, and I make sure that either of my take profit or stop loss is hit before I finalize a trade. In my case, the stop loss is mostly 30pips, and the take profits is 100pips.

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    Trader jamey's Avatar
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    We should keep running our profitable trade and close soon our loss trade. That makes our balance healthy. many trader wait when trade going loss and they move stop loss so far, that is so harmful. We don't should make a invalid trade valid through our emotion. Market won't listen our emotion, it will walk it's own way.

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  4. #4
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    Quote Originally Posted by cozard007 View Post
    Sir, this is a very lovely question, and the answer to it is very simple. All the decision that the trader would make on his trading accounts should be based on the plans of the trader. If the plan of the trader is to take short profits, then he should not hesitate, if otherwise, he should wait till more profits is accrued. I am a long term traders, and I make sure that either of my take profit or stop loss is hit before I finalize a trade. In my case, the stop loss is mostly 30pips, and the take profits is 100pips.
    YES, you are quite right that its all depend on the decision of the trader. I would like to add that all the trader should trade with positive mind and should close their trade after getting small profit, never wait the long time or more profit as market is very unpredictable. Trading with this method we can earn much more from this business and can enjoy our trading, I hope you will appreciate it.

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  5. #5
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    Actually I think the thing that we need to do is that we should trade based on experience in the sense that for me, I do hold my position for longer time, and I only close it when a strong trade setup that will be against my trade has formed, that is when I close it, we should know that in forex trading we cannot for sure say what will happen but experience will teach to us how to trade and handle the business.

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    Trader lawners1791's Avatar
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    working of the good decision as expending limit on numbers with the risks as trader focusing with the rules on following of sets of details with the terms of strategy as to close of numbers of target within the range of time lines and to avoid the waste of resource to prepare of the further entrance on attaining the future sessions of trading works of the good jobs.

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  7. #7
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    Actually that's the part of your trading strategy and your trading strategy will decide that you have to close the trade of you have to stay in the market for a long term time. For a short term trader is not possible to hold his trades for a very long time because his strategy works only for short term goal. First of all spend time in demo trading account, from there you can get a short term as well as a long term trading strategy for you.

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  8. #8
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    Quote Originally Posted by Earnperfect View Post
    Actually that's the part of your trading strategy and your trading strategy will decide that you have to close the trade of you have to stay in the market for a long term time. For a short term trader is not possible to hold his trades for a very long time because his strategy works only for short term goal. First of all spend time in demo trading account, from there you can get a short term as well as a long term trading strategy for you.
    You are right about it, what should decide is the trading approach that we are making use of when trading, that should determine whether we should close the position or still hold it. In addition, our experience matters that is the reason why it would be good if we actually made good use of the demo account in learning which ever trading strategy we want to make use of in trading, then we would know how to apply them on the real account.

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  9. #9
    Trader lawners1791's Avatar
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    small profit as long as trader loves to work with the system those gives of chance to close on completing target with the sequence of terms even to reach of the number of 550 by the 5 digit account to keep of those to run with the stable work on performance to shifts of the good chance as entering the higher stages of plan with the future entrance.

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  10. #10
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    [lang=id]actually, to discuss about it, traders need to understand with the market conditions first, take low profit or wait for it to grow and get more profit but sometimes the price move back and just give us big floating minus, and at this side, traders need to pay attention for the true trend first, and also support resistance for it
    but if feel enough with low profit, it is good too than nothing or losing[/lang]

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