Exit strat?

Hey, I'm a fairly new trader and I've done alright so far but I always cut my profits waaaaayy too early. And when I decide to let it run, the market turns on me and I lose all my gains. I checked around the site but I can't find a good indication of when the trend is just dipping a bit, or straight up bending and starting a downtrend.

Any advice?

Are you sure you're correctly identifying a trend?

Well I draw a trendline and I a decide whether to buy if the line has been tested atleast twice and not violated. I don't know if thats a correct way to identify a trend or not.

potter89,

can you upload a chart of one of your unsuccessful trades please.

this way the successful traders should be able to advise you.

As above, confirmation of trend is key if your strategy demands trading with the trend. And if you are, its not a bad fault to be out early, there will be another opportunity to enter a true trend any minute / day. More important to cut losers than to run winners, until you become highly proficient.

potter89 said:

Hey, I'm a fairly new trader and I've done alright so far but I always cut my profits waaaaayy too early. And when I decide to let it run, the market turns on me and I lose all my gains. I checked around the site but I can't find a good indication of when the trend is just dipping a bit, or straight up bending and starting a downtrend.

Any advice?

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An excellent way to spot mistakes you might be making is to take screenshots of your trades (charts) at the end of the day. Doing that has helped me identify so many mistakes that I was missing in my trading. What I like to do is take screenshots of all my trades at the end of every trading day, then go back through them on friday looking for mistakes or ways to better my trades.