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Under what conditions do you exit a trade before your target or stop has been hit?
With day & swing trading forex specifically I've noticed more times than not that once price is in the green by a good amount after price has moved for a few hours or a day that randomly there will be a volatility spike, sometimes non-news related, that'll simply wipe everything out for the past day or week. Sometimes this works in your favor and other times it doesn't. Holding the trades with risk after they've progressed can be a ticking time-bomb with completely unexpected results on a small sample size. But if the trader has the fortitude to last it'll probably balance out in the end once volatility works in their favor a few times.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
This is actually pretty insightful and shines some light on the question even though it came from the spoo thread. A lot of my trade's targets were a bit ambitious at around 1:4 risk/reward or more and would probably be best to find some areas to scale out within the framework of the price structure.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Usually right behind areas of resistance if I'm going long, So the completely spectrum of a range from support to resistance. I've also used the mid point or multiples of what I've risked (an expectancy) and other variables inside the range if it's very large. If I do use some expectancy I still try to incorporate some resistance levels close by into the equation. What do you use?
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
I read something that applies to that recently in Brett Steenbarger's "The daily trading coach"
You should " draw on emotion".... That means breaking your trading rules should hurt in some way.
Write down after each of your rules : "- ......or else run two miles ! " for example....
In that way you can put emotional force into your trading rules. ;-)