The Secret To Letting Your Profitable Trades Run
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- Опубліковано 4 лип 2024
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Do you struggle with closing your profitable trades too early or holding onto losing trades for too long? These common trading mistakes can severely impact your performance and profits. In this video, I share practical strategies for overcoming the psychological biases that lead to prematurely exiting profitable positions and clinging to losing ones.
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Having price alerts and also taking some profit off at certain targets helped me a lot with my trading.
What's helped me immensely is realizing there is no point in winning small in the long run as the losses will always out due those kind of wins anyways.
Because of this, I always have this thought rolling through my head..
"No, if I am to win, I need to win big."
this channel is criminally underrated
Thanks Nic. Such quality content!
I'm always waiting for new video!
Thanks ! this was very informative
Great content 🤙🏽
Very good, quality content! You deserve way more views and subscribers
Amaziiing video , keep up
THANKS
great video, thanks. What's the ETA for the new trading course?
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I'm a 30 yr finance veteran, retail investment advisor. This is very good advice. I came here via your very good video about QT you made in 2017. I suggest an update considering the timeliness.
Great timing this video, I did just this today. However I cut both trades early. One losing one in profit. I made the excuse to myself that news is in the next hour..but I should have left it.
Thanks for the video 👍✌️
Thank you so much for the work that you do on this channel. You have no idea how helpful these videos are, especially this one! I didn't really want to admit it but I think I do have Myopic Loss Aversion Syndrome!
Underrated content , fantastic advice. Thank you
Hi nicholas, actually some of the market wizards quoted "know when to break your rule" what does this represent actually? if possible please do a video on this. thankyou
Great video AGAIN....
I had a difficult time selling at a loss UNTIL I saw my loss get bigger and bigger.
Then I realized that if I get out with a small loss I can get back in when the trend goes back in the right direction .
So I find it easier to get out and patiently wait for a better opportunity .
Holding now is my next skill to develop.
Sir, which software you use for chart?
I e done both, sold early to watch it run and held on to losers way too long which is the reason for most of my losses. I’ve also cut losses early only to watch them turn into what would’ve been a profitable trade; learning not to cut losses too early has since made me a decent amount and prevented what would’ve otherwise been a loss.
I enjoy your expertise and the advice given. However, you "point" out the video we should watch. Without mentioning the name of that video would be of great help as it is hard to find the one between so many other video's from you. I hope you understand the difficulty I mentioned. Thank you very much for your video's ...
It is really difficult to learn to identify the arousing of emotions while you trade, is a true challenge
As always, you have a way of putting certain points that are so important into words that easily relatable and understandable. Thank you.
Excellent....great one man....
I am an intraday trader. It's really frustating. I keep holding on to my profitable trades when they go sideaways...I then run out of patience and exit my position and the very next minute the trade starts going in my direction again. This is happening not just once...By keeping this in mind, I try to hold on a bit longer and then even after waiting more than my usual wait time, as soon as I exit, the trade performs again.
Mayby Just move your stop loss above belove this rear trend chopy pice of chart.
@@LukaszAdams Done that. The price runs my SL and moves against me a lot of times.
@@nivk9445 So mayby search for max forward excursion. How far price go in your direction before go back.
@@LukaszAdams Will keep that in mind. What I am currently trying is not keeping an SL order. Instead I am just watcing the screen and exiting if the price hits my SL. My hypothesis is there are algos running that detect orders that are already placed and makes the price run them and return back. So far, it's working.
@@nivk9445 Problem with this aproach is first you can lose more then you can aford to lose and Second thing waste Time. I Make make my trading Journal and screens and i know now in my Day trading my max risk reward is max 2.5 RR. Use trading Journal and screenshots to check how much price go in your direction before go back. I stop Day trade month ago and go on d1 Time frame. Easy and dont need much Time and much less emotions.
Hi, i recently found your channel and I really like your videos, keep it up!!
This is a good video! Cheers
Thank you for this great video
Do you have any exercises for adopting probability mindset
Still a working progress for me.
Can you please reply me..I m your big fan💓☮️
Thanks for watching, Manoj! 🙏
~ Nicholas
First
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Guilty as charged lol