CFR - stefan

[sponono]

Either you have taken your 3% profits or you have moved your stop loss to your entry price: nothing worse than a profit turning into a loss.

[#2]

Oh, no, there is a whole bucket load worse than seing a profit turn into a loss. Seeing a rally after taking profit probably rates the highest. What rationale at all would you have had for exiting CFR other than a whim? How would your trading system recover from a lost opportunity? They are far more expensive mistakes than taking a loss on a trade (assuming you have stops, of course). Sponono, I am disappointed in you - I thought you were a Jesse Livemore fan?

[stefanb]

Hi. took profit at +-2% Will see what happens tomorrow, Maybe doing another trade with a very tight stop loss

[sponono]

went short yesterday at 7060 stop loss 7132 target 6200

[Rams]

how are you locking in your profits?

[sponono]

not worried about profits, worrying about risk management: move stop loss (automatic) to my entry price

[Rams]

by far , the worse is a draw-down when using a mechanical system.Based on risk/reward, hitting the stop loss is not painful, win turning into a loss is not painful, missing out on the rally is not painful because all of that can is in the trading system...but consecutive losses over a protracted period where your risk/reward is reversed, now thats pain...if you can get over that, then you could be very successful at trading...