Runners Vs. Set Target to exit

UPDATE: I just have to have the exit as an order on my trading platform. For whatever reason I just cannot hit the exit button and many winners turn into break even trades and I do not have to sit there with my hand on the mouse ready to click. Just works for me.
 
John9999 said:
old issue of mine... and I realize it is as much a mental thing as any. I have been TRYING to let me trades work and run. It just hurts to see trades go positive and then when done my trailing stop (I use PSAR) either gets me to break even or a small loss.

I think for now I need to go back to bracket orders that put in both a stop loss order and a preset target limit exit. It just FEELS so good to take profits. Yes, I have to get over the idea that a runner may go and I was not there for the whole ride.

anyone else want to comment on the mental / emotional side of this issue. It would seem like a technical thing , but it is not.
More...
Entire position should be put on at outset and then all taken off in unison. This is the optimal technique over the long haul.
 
I agree with treating the trade as an indivisible whole - at least for private retail trading with our level of capitalisation. e.g. If your long position has a 75% probability of price rising, then that's 75% for all of it, not 100% for this bit here and 50% for that bit there. Get in or get out.
 
tomorton said:
I agree with treating the trade as an indivisible whole - at least for private retail trading with our level of capitalisation. e.g. If your long position has a 75% probability of price rising, then that's 75% for all of it, not 100% for this bit here and 50% for that bit there. Get in or get out.
More...
yes I completely agree.. while getting out say 1/2 at some level and the other 1/2 at another sounds great on paper, in real life trading it is mentally hard to do. I cannot stress enough how mental this whole trading thing is. For me,,, all in,,, all out on bracket orders, once I am in the stop and exit are also live orders and the biggest challenge for me is to leave them alone
 
There is no one size fits all, you have to find what works for you. I go all in and all out with a target based on average maximum favorable excursion. Stops and targets are triggered on entry by my ATM. It keeps things simple and I like simple. Most extended moves will give additional entries but if one doesn't then it doesn't....that's trading.
 
You must log in or register to reply here.
Back
Top