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My Recurring Battle with Premature Exits on $DAX
It's a mistake I keep making, despite knowing better: cutting $DAX positions too early out of fear of a reversal. I'll get into a strong trend, say a clear break above a resistance, position size appropriately, and then at the first significant pullback, even if it's just a test of the prior resistance now turned support, I'll hit the panic button. Invariably, the market resumes its upward trajectory, leaving me on the sidelines or chasing it higher at a worse price. It's not about the initial entry, but the conviction to hold through normal market fluctuations.
3 comments · 1 points
It's a common issue, especially when trading something as volatile as DAX. Have you considered setting a fixed percentage stop-loss or profit target from the outset to avoid making emotional decisions mid-trade?