Taking Profits Early

[tombtrader]

Is there any time that it is correct to take profits before it hits 2R?

Is it ever correct not to let the maths to work?

What do other traders believe or better still, do?

I know I often bail out of a trade but am wondering if this is correct. I am very short term and have many opportunities every day so that's my rational - a better trade will come along. But am I right?

[Steve Griffiths]

Hi,

A good question. Not allowing trades to "run" is a big mistake and one that will prevent you from ever making the big profits. This is usually a result of trading scared.

This is why we introduced the ATRStop and why I suggest trading on longer time frames, as I know these will capture the big moves.

As such, this is more a question of attitude rather than techniques.

I hope this helps

Steve