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daytrade999

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Hi everyone , this is my first post and a cry for help if you want to think of it that way.

 

I am having trouble in profit taking. Whenever I make a trade, the trade becomes profit but I always let it go to a small loss. I don't know when to take profit. When I get profit I feel like the trade will go up more but never take profit mowing it will not happen . What can I do to have a exit strategy too be profitable! Please help

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"It’s system dependent." zdo

 

A system is a whole of entries, win exits, and loss exits.

ie changing any part does not yield a 'optimized' modification of the system… it yields a whole new system.

 

One can conceptually downplay /deny aspects of the whole… but in the long run, better results come from fully acknowledging and dealing with systems holistically. …the system you are currently trading may not be good for more than 3 or 4 ticks. etc. etc. etc

 

So discussing exits in a void is time and energy that could be utilized more wisely. For others to chime in and give you well intended advise based solely on what works for their system, but has no relation or applicability to your system ( ie virtually ‘randomly’ ) is a waste of everyone’s time.

 

The better description of the whole you provide, the more relevant and useful possbible answers from those experienced in systems will be...

 

How do you test your system?

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Hi everyone , this is my first post and a cry for help if you want to think of it that way.

 

I am having trouble in profit taking. Whenever I make a trade, the trade becomes profit but I always let it go to a small loss. I don't know when to take profit. When I get profit I feel like the trade will go up more but never take profit mowing it will not happen . What can I do to have a exit strategy too be profitable! Please help

 

Are you back testing your strategy? That is the only way you will see where to put your stops. Trust me, I did trading off technicals for ages and you just can't set stops appropriately without writing the trading program and running a backtest, tweaking your stops...

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Thank you for the replies, never would expect people to answer it .

 

My approach to trafing is jus watch price and waiting for it to go higher to lower and then place a trade. I use the ATR to set profit target . But sometimes I feel anxious and scare that another trade will turn to a loser even though it made some profit but never it the target . I feel like me moving my stops to limit risk is limtimg profits because of stop outs .

 

Sorry for bad grammars . Thank you .

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