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Targets on the ALSI

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venice
Super Contributor
I am fairly good at getting the direction right on the ALSI i.e. when to short it ect my problem is targets, this morning is a good example I was short at 16810 but closed after 200 points because despite not getting a signal I lost confidence and took profit, just to see another 250 points go by. Any advice on how to take profit signals ect it really busts my b.lls missing half the trade.
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5 REPLIES 5
NJ_1
Frequent Contributor
If you're not sure (no signal yet) sell a portion of your holding instead of all.
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Not applicable
I think its pretty good to get half the profits from a potential trade, dont let it bug you. U can try to decide on profit levels before entering the trade & exit gradually in steps (assuming yr trading more than 1 contract). How about some advice from your side - how to get the direction and timing for entry right in the first place?
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SimonPB
Valued Contributor
you already know the problem, less about targets, more about confidence .. trade a smaller amount so that any loss hurts less and that may help your confidence ..
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venice
Super Contributor
I only trade one contract at present, not really worried about the money ,just that I keep screwing up the exit. But confidence is key
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asylum
Super Contributor
the way i do it is to move my stop loss as the trade gets into profits and i keep adjusting the stop loss that way you dont have to panic youre already in the money so let it run. omo
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