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    Thread: Do Not Let Your Profits Run It could be dangerous

    1. #1
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      Default Do Not Let Your Profits Run It could be dangerous

      I have heard a lot of talk about letting your profits run and cutting your losses and the same people who advocate this position often also tell us how to have confidence in trading and also how not to be greedy and again how not to be fearful, at and the end of the day we wonder: What exactly should we do then?

      If you are a good and professional trader you will know how to split trades and run reducing lot size positions on multiple trades but this post is for the NEW TRADER. If you let your profits run just because you think the trend might continue, such profits might simply just RUN AWAY, and you do not want that. The simple solution is to have a target for Take Profit and stick to it.

      If you choose to always cut your losses all the time, you might just be cutting short a lot of winners. You must and should have a stop loss for your trades and then you should always allow such trades to run the logical conclusion. This is the part where risk comes into play. Do not allow FEAR to get a hold of your trading.

      When you begin to employ fear tactics or greedy emotions in your trading, it will be difficult to make any real progress in this business.

      What do you think fellas?

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      For me, I will put certain target for my open position. after reaching the target, i will set the BE+1 to avoid from losing all the profits. This will ensure that i had protected my investment and let the profit ride itself. and when the market going deep into my prediction, i will adjust the Sl to another level

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      It depends on what strategy you are using, if you are using a trend following strategy then you should let your profits run, but the market recently are ranging most of the time so a trend following strategy may not be suitable, maybe you can scale down your position so that no matter what happen you can still has some profits even if market reverses.

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      It is depend on trader's trading strategies that how much profit he can earn from a trade. some time our trade is running in good profit but after some time it start decreasing and at the end went into loss. according to my point of view we should use Thrilling Stop to avoid this type of situations every time when we open a trade.
      when we use thrilling stop then we can get some profit at least which is better then loss.

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      We cut our profitable trade and let running losing trade in hope of return, this means we are afraid and can not overcome on our emotions, but this is also a style of trading and a strategy where are risk our trade more than we are trying to achieve but maybe some traders are successful but most of them are fail because i had tried this and over confidence kill our account and sometime we leave our trades without a stop loss, if we let run our profitable trade open we get afraid whether we will lose our positive pips and close even trade goes forward on our taken direction, I must say we must have a risk to reward ratio applied on our strategy if we are trading even scalping or naked trading, its fine to close a trade on few positive pips and can earn more than a long term opened trade but we stuck somewhere we can not control our emotions.

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      Quote Originally Posted by Kadiri View Post
      I have heard a lot of talk about letting your profits run and cutting your losses and the same people who advocate this position often also tell us how to have confidence in trading and also how not to be greedy and again how not to be fearful, at and the end of the day we wonder: What exactly should we do then?

      If you are a good and professional trader you will know how to split trades and run reducing lot size positions on multiple trades but this post
      is for the NEW TRADER. If you let your profits run just because you think the trend might continue, such profits might simply just RUN AWAY, and you do not want that. The simple solution is to have a target for Take Profit and stick to it.

      If you choose to always cut your losses all the time, you might just be cutting short a lot of winners. You must and should have a stop loss for your trades and then you should always allow such trades to run the logical conclusion. This is the part where risk comes into play. Do not allow FEAR to get a hold of your trading.

      When you begin to employ fear tactics or greedy emotions in your trading, it will be difficult to make any real progress in this business.

      What do you think fellas?
      You have a point put itvis not always the case. You need to realise that forex trading is not like gambling where you take whatever you see. On the contrary, while you trade you must know that following your market analysis. Sometimes you quickly exit an ongoing trade and want to follow every trail of the trend but you will unfortunately get consumed in the adventure. So it is safer to follow your analysis. You may use trailing stop along the line

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      it is good to trade with TP and stop loss but we should have good command on our analysis so we have good profitable trades if you realize that this order will touch my target and now it is coming back and it can pullback so we should take our stop loss on suitable profit this can safe us and we can also make more profit.

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      I agree with your this opinion that if do not care our that trade which is running into profit is dangerous for us because we know that market is very critical and we have no idea what happens in the market in next instant and if market start moving against our trade then there are lot of chances our profit running trade turn into loss which is bad for us and for saving our-selves from this situation closing profitable trade in small profit is best .

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      Cut your losses short and let your profits run is first and foremost applied to trend traders. Trend traders usually face more losing trades than winning trades because it is very difficult to catch a trend early on. Once they catch a trend they should go with it as long as it goes and trends can last for long time and bring many pips. it is true that a winning trade can turn to losing but that is why traders should trail their winning trades and lock break even or profitable trades if the market goes in their direction.

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      I do not think that allowing your profits to run is entirely a dangerous idea, if you see the possibility for your trades to still continue to make progress in your desired direction then its good to allow it continue but if there is no sure pathway for the trader to continue then its better to close it with small profits.

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