What to do if you miss a limit order? I only do one thing: give up
Many people ask me, if I place a limit order and the price almost reaches my target but then drops directly, what should I do?
I used to be conflicted, thinking "it was so close to being executed, maybe I should chase it a bit more," but chasing often leads me to a local high point, resulting in either a quick pullback or a very uncomfortable position.
Later, I established a hard rule:
If I miss a limit order, I give up.
The reason is simple:
• Missing the market once does not mean there won't be a next time
• Opportunities that truly belong to you do not need to be forcefully chased
• Orders that are chased often lead to a mindset that has already collapsed, making it difficult to execute the plan
Now my rhythm is as follows:
Set the plan before placing a limit order, and if it’s time to enter, I enter; if not, I continue to wait.
If the price misses my target by a little or turns back directly, it indicates that this market move was not meant for me at all.
Missing out will not reduce my earnings, but chasing can cause me to lose my rhythm.
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Trading doesn’t always have to be about winning; it’s about keeping each move within a rhythm that I can control.
Letting go of market moves that don’t belong to you is more important than anything else.
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If you often struggle with whether to chase after missing a limit order, why not try setting a hard rule for yourself?
Once the act of giving up becomes natural, your trading state will naturally stabilize too.
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