1/ Trade with a volume suitable for yourself.
If you haven't been able to hold profits yet, you need to lower the volume down and find a volume that suits you in order to be able to hold profits.
For example: Normally, you trade with a stop loss of $100 for an order, when entering the order, you continuously monitor the chart, feeling nervous and when the order runs a bit, you fear the price will reverse, so you close early, and if the order is in the negative, you either remove the stop loss or DCA more, then that volume is not suitable for you; you lower down to $50, $30, $20, try trading to see which volume you enter, you no longer hold your phone to check the chart frequently, regardless of how that order runs, that is the volume suitable for you, and you no longer feel resentment about the stop loss, then from there you can hold profits.
2/ Trust in your trading system.
- As for you guys, entering the trade won’t know where the price is going, but you guys know that your system will be profitable in the long term, so you will accept that sometimes the price runs close to the take profit and then reverses or the price sweeps the stop loss and then runs to the take profit, => if you don’t have a stable system yet, you need to review your trading system.
3/ It's because you know too many things; you learn technical analysis and stuff too much, you see resistance everywhere, and seeing resistance creates fear, so you close early, not to mention the reverse signals from leaders or other groups... => the solution is to choose a method you feel most comfortable with and dive deep into it.
4/ You are limited by your phone/computer screen; when the price rises, the price is close to the top of your screen, you think the price is already high, the psychology creates fear, fear leads to closing, so you can't hold profits, therefore don't limit the market's highs and lows by our screens.
5/ To hold profits well, you need enough flight hours (at least 3.5 years); someone who has been in the profession for a long time must hold better than someone new to it, so you need time to absorb the market.
6/ Learn to accept.
- Accept that sometimes the price is close to hitting the take profit and then the market sweeps back to the stop loss.
- Accept that sometimes the stop loss gets swept and then it runs to full take profit.
- Accept that sometimes a few pips away the price runs without catching.
- Accept the things that you cannot control.