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    Thread: Do not wait for more profit

    1. #191
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      Quote Originally Posted by hughes View Post
      we should close our profit and trade again. if we wait long time to make more profit then we can lose the profit and at last we also get our account closed. so never wait for more profit.
      i dont really agree with this. i think its defferent every trader, if trader use big time frame, trader will need to wait more time for the price to reach some point. we can use trailing stop so we wont loss our profit. the important thing is we should have proper plan before open a trade.
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    3. #192
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      in many times i have faced this situation. i was waiting for more profit and closed my trade with loss. so i am also giving you the same suggestion do not wait for more benefit. close your trade if you have some profit. if you want more then trade with analysis again. don't be greedy.

    4. #193
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      Yes I also thing that we should close our trade after getting desired profit rather than waiting for more profit because it would be a big mistake if we do this. There are a lot of traders who must be doing this mistake and this is the reason they face the losses most of the times and lose all their money as well.

    5. #194
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      When forex trader has open trade in profit position i usually close or wait for target profit and do not wait for more profit because we can not really predict the next forex price movement. It is better to close profit trade as it reach target profit and take what we can get, it will be more safe way to do forex trading business and better confirm our profit money.

    6. #195
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      I think we should surely wait for much profit as the market moves one way most of the time and resulted we can get too much profit from a single trade if we can keep our fair of loss controlled and we must need a good risk and reword ratio only for that.

    7. #196
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      There is no need to wait for more profit if the chances of success is slim. We need to wait if we are certain to a high degree that the date and target will eventually come and we need not to be 100% certain. Success is a combination of so many things and waiting is one of such thou.

    8. #197
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      Quote Originally Posted by Honest View Post
      There is no need to wait for more profit if the chances of success is slim. We need to wait if we are certain to a high degree that the date and target will eventually come and we need not to be 100% certain. Success is a combination of so many things and waiting is one of such thou.
      this is not possible my dear, I mean, you can wait for more profit but you can never take a trade out of high certainty because nothing ever we do can be close to certain, we are always operating under uncertain conditions and we do have to acknowledge the fact that any kind of setup can fail from time to time

    9. #198
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      Yes do not. Be happy with small profit try to make big amount of profit from trading but if you can not then do not be upset. Always be happy with small profit. Continues small profit can make you profited at the end of the day. After having some profit come out from market. Do not stay in market for big profit if you are small capital holder.

    10. #199
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      Contemplating on when to take profit can add more concussion to a trader. This is why I suggest have a laid down rule to follow while in a trade. If therewas s take profit terget before evwn execution the trade you wouldn't have to face this situation more over taking little profits is usually for the intraday trader. A loby term trader would not wiat gor days only to take tiny profuts.

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    12. #200
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      We must to immediately stop our trading day after getting all profits from forex business in one day. Because overtrading can lead to greed condition and it may not help to the traders in reaching their goals in a market. Be calm and with suitable procedures, any of destinations can be reached.

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