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Micromanaging Trades
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Micromanaging Trades

  #1 (permalink)
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Micromanaging Trades

Does anyone have any tips on not micromanaging trades, set and forget or sit on hands and watch? I can typically see the larger target, but I end up taking the smaller target getting caught up on the one minute (sometimes I have to depending on the setup) and all the ups and downs. I find myself wanting to trail and lock profits in or often once prices moves a few points bring to break even(bad habit). I know the simple answer is just sit on my hands. Maybe Iíve answered my own question; any insight would be greatly appreciated. Thanks in advance for the input.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #2 (permalink)
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  #3 (permalink)
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teamtc247 View Post
Does anyone have any tips on not micromanaging trades, set and forget or sit on hands and watch? I can typically see the larger target, but I end up taking the smaller target getting caught up on the one minute (sometimes I have to depending on the setup) and all the ups and downs. I find myself wanting to trail and lock profits in or often once prices moves a few points bring to break even(bad habit). I know the simple answer is just sit on my hands. Maybe Iíve answered my own question; any insight would be greatly appreciated. Thanks in advance for the input.

Use order flow that's the only way other wise you are guessing
Unless you use a trailing stop which tends to be late

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  #4 (permalink)
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Trade a bigger time frame/chart and a smaller size. Trade "I don't care" size.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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  #5 (permalink)
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Big Mike View Post
Trade a bigger time frame/chart and a smaller size. Trade "I don't care" size.

Mike

I typically time on a smaller time frame a one minute and look for my areas of entry and exit on a larger time frame say 5,15, and 60. So essentially I should just be sitting on my hands not getting caught up in the ebb and flow of the one minute chart.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #6 (permalink)
Site Administrator
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Watch Dr. Brett's webinar on futures.io (formerly BMT):

https://futures.io/psychology-money-management/31960-webinar-dr-brett-steenbarger-improving-trading-performance.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #7 (permalink)
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When I ever I switch to leave it on, like all runs will go 50+ pips then I find all my trades get to +10 or even +20 then go back to the SL.

I take either on other side of the range, or on quick extensions which likely reverse.

The fact of the matter is, very few trades run more than 10-20pips these days, take what on offer and say thanks and repeat.



shame a bunch of 50+ runs would be just what the doctor ordered!

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  #8 (permalink)
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For the most part I get it. It's just me. I guess this was just one of those dumb questions. I was looking for the magic answer lol. It's crazy because I think new traders or doubtful traders are looking for the magic Kool aid. Just taking the lickens and learn from them is the only way. I need to stop doubting. @Big Mike Thanks for the reply.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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  #9 (permalink)
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not sure what you are trading and trade size, but one way some traders deal with this is to take partial profits on a smaller time frame, and leave the rest for the larger time frame.

You have to test this over a large sample size to see if it is effective for you.

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  #10 (permalink)
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kickmic View Post
not sure what you are trading and trade size, but one way some traders deal with this is to take partial profits on a smaller time frame, and leave the rest for the larger time frame.

You have to test this over a large sample size to see if it is effective for you.

Trading one car. I will increase increments for every 5k.

"Small disciplines repeated with consistency every day lead to great achievements gained slowly over time."
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