Having Trouble Managing Your Manually Placed Forex Trades?
As Forex traders, we sometimes spend so much time learning when to place the trade, that we completely fall apart once we do. We figure the “perfect” entry point by careful analysis, well thought out systems and expert planning. But once the trade is live, we let emotion guide our every decision!
- Should I take my small profit now?
- Should I move my stop up?
- Should I let profits run?
- Should I close out the trade before my stop gets hit?
These are all questions that run through out heads as we watch price action. And the big problem is, since we have money on the line, we make decisions based on EMOTION. After all our careful planning BEFORE the trade… we manage the trade based on the emotions of fear and greed.
I just got done writing a blog post about this and how you can easily fix this problem by using the Forex Trading Troll to manage your open Forex trades on Metatrader4. If you have problems managing the trade AFTER you place it, I suggest you check it out…
Let The Forex Trading Troll Manage Your Trade Or Micro-Manage The Trade?
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