The cost of moving stops on NQ
Watching the NQ futures this morning, and it brought back a pretty painful memory from about a year ago. Had a decent short position, market was moving my way, and then stalled right at my initial profit target. Instead of taking the win, I got greedy, moved my stop to break-even plus a few points, and watched it snap back through that level with conviction. Ended up getting taken out for a tiny gain when I should have had a decent one. The market doesn't care about your paper profits.
The real lesson there wasn't just about moving stops, but about letting a good trade turn into an unnecessary risk. My analysis was solid for the initial move, but my psychology faltered at the finish line. Sticking to the plan, especially when it's going your way, is always harder than it sounds, but absolutely crucial.