I have no problem setting a risk level and cutting losses quickly, but when it comes to holding a winner, I always get this urge to sell right after it reaches 10 cents of upside. This is most likely bc of my repeated exposure to losses and my urge to lock in some $$.
Lately, the market hasn't been as volatile as november and december so big upside moves arent nearly as common and easy to play. How do I deal with this pussy trading? Any advice is appreciated.
Posted Mar 11, 17 8:55 PMbykenjiii16
Categories
Basics, Trading Mistakes
You can use 9 EMA on the 1 minute chart. Once it breaks the 9 EMA on the 1 minute chart it means the trend has changed get out.
https://www.youtube.com/watch?v=1fB3EF7XeXU&t=3834s
I fight with this too! Funny thing is I know what to do, just haven't been able to mentally force myself to listen yet... If your size is big enough, as soon as the stock rises to a price equal to the original distance to your risk stop, sell half position to lock in profits. Then set your stop to the original buy price so you are guaranteed to have made a profit. Now, let the second half of the position ride until it either breaks the 9EMA like @koolboy160 said OR the first 5min candle to make
a new low after your original 1st half sell price OR it falls back to the original entry price and you stop out. This way you guarantee some profit and are mentally free to let the second half ride until actually stopped out for valid technical reasons.
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