Six key factors for not being able to hold on to floating profit orders
One of the most frequently asked questions in the current market, and also the distress of most people.
Floating profit orders cannot be held, and once the market retreats, you panic and want to close the position. Summarize the following reasons👇:
👉1. Lack of logic and basis for judging opinions, no confidence support, and you think it depends on luck.
👉2. Lack of main line thinking, cycle mismatch, affected by short-term fluctuations during the market monitoring process, and swayed by local market conditions.
👉3. Incomplete trading plan, lack of exit mechanism, no clear stop loss standard or effective stop loss position, no way to judge the possible consequences, no idea how much you will lose if you are wrong, no reasonable expected target or stop profit standard, and no idea where to take the profit.
👉4. The expected target is too high, resulting in the stop profit position being too extreme. Before the market retreats, you always want to stop profit at the expected position.
👉5. The position is too large, beyond the psychological tolerance range, and the profit and loss margin is too large, affecting the mentality.
👉6. Lack of experience, no success, and insufficient knowledge.
