Having trouble letting my winners run

This is a discussion on Having trouble letting my winners run within the Discretionary Trading forums, part of the Methods category; Well yes its hard, that's why its called the 90% club. Look at this. You enter a strong uptrend, long, ...

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Old Jun 14, 2017, 11:50am   #17
Joined Feb 2002
Well yes its hard, that's why its called the 90% club.

Look at this. You enter a strong uptrend, long, after a pull-back. However you do it, you give the set-up 60% as a potential trade. So, great, price goes up. Then it slows a bit, and goes sideways a bit and then starts to go up again. Now you find you're giving the new set-up 75%. This means, if you weren't in it already, you'd definitely be buying here. So why let a limit order take you out?
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Old Jun 14, 2017, 12:01pm   #18
Joined Oct 2014
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Originally Posted by tomorton View Post
Well yes its hard, that's why its called the 90% club.

Look at this. You enter a strong uptrend, long, after a pull-back. However you do it, you give the set-up 60% as a potential trade. So, great, price goes up. Then it slows a bit, and goes sideways a bit and then starts to go up again. Now you find you're giving the new set-up 75%. This means, if you weren't in it already, you'd definitely be buying here. So why let a limit order take you out?
I appreciate your help but my setup is not PA dependent and I don't judge it that way at all. Maybe I didnt make it clear, my system works despite my personal issues.
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Old Jun 14, 2017, 12:56pm   #19
Joined Feb 2002
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Originally Posted by carryontrading View Post
I appreciate your help but my setup is not PA dependent and I don't judge it that way at all. Maybe I didnt make it clear, my system works despite my personal issues.

Its OK, the focus on PA is purely my imposition. But the example is applicable across other styles. Imagine Warren Buffet telling his shareholders, "We've started getting great dividends from XYZ Inc. so we're going to sell the company. But we're keeping ABC Inc. because their dividends are poor".
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