Taking Profits Too Quickly? It’s Time For A Strategy Tune-up

Taking profits too quickly and letting losers run are common problems amongst new and old traders.  The combination of the two often ends up shortening the professional trading careers of many.   The cause is most times traceable back to the strategy and position sizing being employed or the lack thereof.  The answer then is often found by doing a strategy tune-up.  A common mistake is to begin trading without a well-defined strategy or objective.  Taking profits too quickly or letting a losing trade run are not uncommon even amongst more experienced traders.  Starting with a clear objective is important.  What is your per trade profit target?  How many contracts are you trading?  How often are you trading?  Where are you placing a stop?  What is your exit strategy?  What amazes traders the most after using the Trade Manager is how much money they were leaving on the table by not having the correct amount of shares or contracts for each trade.  Ninety-five percent of tr
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