It Almost Hit Target… Now What?
Summary
Host Mark Colsted addresses the common trading dilemma of a position stalling just shy of its target. He explains that the correct action depends on your current objective: strict adherence to the plan is essential for building discipline, while experienced traders can employ flexibility through stop adjustments or partial profit-taking. Colsted emphasizes that there is no single right answer, but rather a need to pre-plan these scenarios to manage anxiety and maintain consistency. Ultimately, he advises traders to accept that some decisions will be proven wrong immediately, viewing these m…
Topics discussed
The dilemma: trade stalls just shy of target
Sponsorship and listener demographics
Analyzing the psychological conflict of holding vs closing
Strategy 1: Strict discipline and sticking to the plan
Strategy 2: Adapting to dynamic market conditions
Option A: Closing the entire position early
Option B: Adjusting the stop loss for better risk/reward
Option C: Partially closing to de-risk and let runner run
Documenting decisions and building statistical data
Accepting inevitable mistakes and stress testing your mindset
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