I'm very new to trading and still trying to learn what the heck I'm doing and what I'm doing wrong. Today this trade presented itself and I just want to rant about my fear and inability to let the trade run it's course.
I know it takes time. I know I need to be more patient. Instead of letting my initial trade go the distance, I took profit early, then added a new trade when I saw it was continuing in my direction. Stupid me took the profit from that one early too and then put in a third trade which is when it began retracing. Then the fear of the retracement being a change in direction I closed out of the third trade at a loss which actually wiped out the two profitable trades.
If you have any help or advice for a newbie, please feel free to comment below.
I know it takes time. I know I need to be more patient. Instead of letting my initial trade go the distance, I took profit early, then added a new trade when I saw it was continuing in my direction. Stupid me took the profit from that one early too and then put in a third trade which is when it began retracing. Then the fear of the retracement being a change in direction I closed out of the third trade at a loss which actually wiped out the two profitable trades.
If you have any help or advice for a newbie, please feel free to comment below.